If we were to say which asset is the most "inspirational" recently, it would undoubtedly be ADA.

Whenever the market is sluggish and the narrative is exhausted, there are always those who step up to elevate ADA to a pedestal: this is the third-generation blockchain, a public chain elite backed by academic scrutiny; an endless "technological revolution," a dream machine driven by papers for the future. The market is certainly very discerning—every time the project team releases terms like "upgrade," "governance voting," or "new ecosystem," ADA's price tends to rise, as if it has already understood the script.

You say its technology is leading? Sorry, just ask and it falls short. You say its ecosystem is thriving? A quick check shows almost no one is using it. Smart contracts have been launched for several years, yet the developer tools remain outrageously difficult to access; projects aren't just slow to materialize—they're almost completely stagnant. But that doesn't matter; after all, the most important thing in the crypto world is—"having faith."

In the world of ADA, "dreams," "future," and "transformation" have constructed some kind of sacred narrative. As for what actually runs on-chain or what the real TPS is, these can be temporarily left unmentioned, or even never mentioned at all.

One cannot help but admire that the ADA team is indeed top-notch in marketing. They understand human nature, understand the market, and more importantly, know how to continue harvesting enthusiasm through rhetoric when technology fails to deliver results. They understand that in the crypto world, only a minority care about technology; what truly matters is who tells the story more compellingly, and who is better at driving the price up.

So, don’t underestimate ADA. Although it hasn’t even crossed the threshold in technology, in the survival game of the crypto world, it may have already graduated.