Here's the thing—when an onchain project hits that $100 million valuation mark and beyond, it matters. Full stop. The context might be messy, narratives can get complicated, but breaking through those kinds of market caps? That's a genuine signal worth acknowledging. It's not about ignoring the noise. It's about recognizing that hitting nine figures on-chain means *something* took hold. Real liquidity flowed in. Real adoption moved the needle. You can have all the concerns you want—market conditions, volatility, whatever—but that milestone is still worth noting as a positive data point.