Public Companies Double Share of Blockchain Revenue

| cointelegraph.com
Public companies accounted for 16% of blockchain revenue in 2026, up from 7% in 2022, according to a report from crypto investment firm 1kx. The gain came even as total blockchain revenue is projected to fall 28% year over year to about $100 billion. 1kx analyzed more than 2,600 protocols and earnings reports from 104 listed companies. It said new listings, including Circle, and revenue growth at established firms helped lift the public companies’ share. The 10 largest companies in the study doubled their blockchain-related revenue over three years. Coinbase and Circle generated about $3.3 billion combined in the first half of 2026; listed Bitcoin miners earned roughly $2 billion. The report also found that revenue from broader economic activity, including tokenized assets, payments and prediction markets, exceeded blockchain infrastructure revenue in the third quarter. Institutional and broader economic activity together represented 33% of revenue that quarter. The findings point to growing corporate and real-world use of blockchain, though revenue remains concentrated among a small group of companies.
Neutral
The report is structurally positive for blockchain adoption: public companies’ share of blockchain revenue more than doubled since 2022, while revenue from tokenized assets, payments and other economic activity is growing. Such trends may support long-term confidence in real-world blockchain use and could benefit infrastructure and tokenization-related projects if growth translates into sustained demand. However, this is an industry revenue report, not a direct catalyst for any specific token. The projection that total blockchain revenue will fall 28% in 2026 is a counterweight, and revenue is concentrated among a small number of companies. That concentration can limit how broadly the figures translate into gains across crypto markets. Similar reports on institutional adoption and real-world asset growth have generally influenced longer-term sentiment more than immediate prices; short-term trading is more likely to respond to macroeconomic conditions, liquidity, regulation and token-specific developments. The overall market signal is therefore neutral, with a cautiously constructive long-term undertone.