i think that exchanges is not an indicator for the legitimate of the project
and its not a "FUD" around the coin... the coin actually is useless.. its only can be traded in exchanges, and i dont see any other options for that...
how can it be a smart investment if it has no development no use no purpose :| its just boring
You may be right but people like speculating. Look at what ethereumdark did in a months time. They got listed on several exchanges and the value of that went as high as $5. It may not be everything but it may be worth
some speculation at the very least