Blockchain revenue attributed to publicly traded companies reached 16% of the industry total in 2026, up from 7% in 2022, according to research by crypto investment firm 1kx. The firm projected that overall industry revenue would fall 28% year over year to roughly $100 billion in 2026.

Blockchain revenue shifts toward listed companies

The research examined more than 2,600 protocols and earnings reports from 104 publicly traded companies through the third quarter of 2026. The researchers attributed the listed companies’ growing share partly to new stock market listings, including stablecoin issuer Circle’s 2025 listing, and revenue growth at existing companies.

Coinbase and Circle generated approximately $3.3 billion in combined blockchain-related revenue in the first half of 2026, while publicly traded Bitcoin miners earned roughly $2 billion. JPMorgan, BlackRock, CME Group, Visa and Robinhood collectively accounted for another $1.1 billion, according to 1kx.

Revenue was concentrated within the public-company group: its six largest companies accounted for roughly 50% to 60% of the group’s revenue.

How the dashboard differs from the broader report

The broader report includes company earnings as well as protocol activity. Separately, the 1kx onchain revenue dashboard tracks user-paid onchain fees and defines revenue as fees after paying contributors. Its fee measure excludes Circle and Tether income, so it should not be treated as the same measure as the report’s public-company revenue total.

Payments and tokenized assets gain ground

Revenue from broader economic activity, including tokenized assets, payments and prediction markets, surpassed blockchain infrastructure revenue for the first time in the third quarter, at approximately $5.3 billion versus $5.1 billion, 1kx said.

That category grew 58% year over year in the first half. Combined with institutional adoption, it represented 33% of blockchain revenue in the third quarter; 1kx projected a 30% share for the full year.

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