Regarding volume we must also remember a lot of the coins are sitting with MMs and exchanges they have an incentive wash trade, it's been an issue for ages now, very little of that vol is legit. I mean why does XRP have rules where they unlock coins each month "use it" and then put it back? Loads of other tokens have treasury reserves designed for this purpose
Volume is one metric, but I prefer to look at velocity, you want to see how 1 actual coin moves around each time, which gives you more of an idea of the actual use of the said coin.
The pain there I have is that most of these chains we cannot validate the data ourselves because node requirements are so high.