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1kx Blockchain Revenue Report
Blockchain revenues, their drivers and origins, sector trends and valuation implications.
2026 is the year Fundamentals beat Bitcoin
In 2025, more than 85% of large-cap tokens underperformed Bitcoin. In 2026, roughly one quarter of them outperformed Bitcoin. The strongest common feature among those tokens is the value they distribute to tokenholders.
2025 Onchain Revenue Report: From Mania to Maturity
A comprehensive analysis of protocol fees, value distributed to token holders, ecosystem rotation, and valuation dislocation through the October 2025 data snapshot.