In the Cardano ecosystem discussion, market participants are often attracted by narratives and overlook the core issues.

To be honest, projects without enterprise-level application support always face the risk of long-term zeroing out. This is not pessimism, but reality — in the current ecosystem, few chains actually have user funds flowing in and active application development. Most activities on the chain remain cautious, even with a clear tendency to observe.

This raises a key question: which projects have truly achieved enterprise-level adoption?

This topic often provokes resistance, but data and market logic do not lie. Adoption rate, user retention, and monetization capability are the hard indicators to evaluate a project's vitality.