REAL MONETARY ADOPTION

Real monetary adoption

Record who holds, pays and prices in the asset, and whether that behavior persists.

01 / QUALITYMonetary qualityHow good is it as money?Rules, rights, security, privacy and purchasing-power outcomes 02 / ADOPTIONReal monetary adoptionIs it actually being used as money?Persistent holding, real payments, merchant retention and native pricing 03 / VALUATIONInvestment valuationWhat does the current price imply?Price, float, dilution, depth and demand assumptions

Assess each layer separately, without a combined score. Strong quality does not establish broad adoption; broad adoption does not establish a cheap entry price.

Current status: documentary observations; comparable adoption samples pending

The records below retain their original evidence dates. No new adoption measurements have been added, so no adoption score or rank is assigned. Wallets, merchant software and payment capabilities do not by themselves establish sustained use.

Acceptance

Who repeatedly accepts it? Record regions, use cases and active users, with identity deduplication.

Real payments

How many repeat payments and retained merchants? Exclude self-transfers, exchange transfers and subsidized activity.

Native pricing

Are goods, wages, contracts and debts priced in it directly? Separate fiat-converted payment quotes.

Persistent holding

Reconcile independent holders, holding duration and repeat participation. Addresses are not people; price and cap do not substitute for usage evidence.

Project adoption records

Fixed project order · no ranking

Hacash HAC

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

Internal ecosystem use differs from external merchant acceptance; partnership claims do not establish functioning payment channels.

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

Net merchant settlement and repeat-use samples are missing; diamond trades, self-transfers and channel events are not automatically consumption.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

Native HAC wage, goods and debt pricing needs measurement beyond ecosystem assets quoted in HAC.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Pearl PRL

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

No complete adoption record in this framework; features and demand hypotheses still need evidence of real user behavior.

11.04 · Real payments

Evidence gap

No complete adoption record in this framework; features and demand hypotheses still need evidence of real user behavior.

11.05 · Native pricing

Evidence gap

No complete adoption record in this framework; features and demand hypotheses still need evidence of real user behavior.

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Quantus QTC

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

No complete adoption record in this framework; features and demand hypotheses still need evidence of real user behavior.

11.04 · Real payments

Evidence gap

No complete adoption record in this framework; features and demand hypotheses still need evidence of real user behavior.

11.05 · Native pricing

Evidence gap

No complete adoption record in this framework; features and demand hypotheses still need evidence of real user behavior.

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Bitcoin BTC

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

Needs separation of BTC acceptance, instant conversion and investment exposure.

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

Needs deduplicated merchants and repeated-use samples; registration is not activity.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

Needs native BTC pricing samples for goods, wages and long-term contracts.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Monero XMR

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

A verified acceptance list with regional, amount and identity requirements is needed.

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

Merchant transaction samples distinguishing actual use from merely displaying payment options are missing.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

Samples of XMR-native wages, leases and durable prices are needed.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Zcash ZEC

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

Acceptance data must distinguish transparent and shielded ZEC support.

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

Reproducible merchant volume, repeat usage and privacy-path shares are missing.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

ZEC-native wage, goods and long-term contract pricing shares are not measured.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Litecoin LTC

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

LTC acceptance directories need verification of functioning receipts, paths and settlement.

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

On-chain counts do not separate consumption, self-transfers and exchange activity; merchant and repeat-use samples are needed.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

LTC-native goods, wages and debt pricing shares are unknown; automatic conversion is not native pricing.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Bitcoin Cash BCH

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

Payment orientation is not measured global acceptance; listings need actual receipt and native-settlement checks.

S41

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

Merchant samples must distinguish consumption, repeat payments and self-transfers; chain activity alone is insufficient.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

BCH-native goods, wages and debt pricing shares are unmeasured, excluding gateway auto-conversion.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately

Dogecoin DOGE

Comparable adoption: unmeasured

11.03 · Acceptance

Evidence gap

Directories and discussion do not quantify acceptance; functioning payment and settlement channels need verification.

Original record date: 2026-09-28

11.04 · Real payments

Evidence gap

Tips or transfer counts are not automatically consumption; net merchant payments and repeat-use samples are missing.

Original record date: 2026-09-28

11.05 · Native pricing

Evidence gap

Native DOGE wage, goods and contract pricing shares are unknown; acceptance is not unit-of-account adoption.

Original record date: 2026-09-28

Persistent holding: no entity-deduplicated holding and retention sample over a defined window is connected.

Monetary quality Evidence & gaps Examine valuation separately