Not necessarily — volume alone is an incomplete signal. The more important question is whether order book depth and spreads remain healthy.

• Low volume with strong depth typically reflects a stable but quiet market.
• Low volume with shallow depth creates structural vulnerability — even modest trades can move price materially.

Artificially inflating volume through incentives or wash trading may improve optics temporarily, but it introduces regulatory and reputational risk. Liquidity quality — not headline volume — is the correct benchmark.