1kx Releases 2026 Mid-Year Revenue Report for the Crypto Industry, Total Revenue Down 23% to $47 Billion

1kx has released its revenue report for the first half of 2026 in the crypto industry. Total cryptocurrency revenue has decreased by 23% year-on-year, reaching $47 billion. The decline in revenue is primarily attributed to lower financial-related income compared to 2024 levels, with CEX, derivatives, and market maker revenues dropping by $5.2 billion, and on-chain DeFi revenues decreasing by $1.8 billion (-32%). Additionally, ETF and fund management fees fell by $1.1 billion. Furthermore, blockchain revenues continue to decline, with staking and mining rewards down by $6.2 billion, and transaction fees and MEV halved, leading to blockchain-related income accounting for only 25% of total revenue, a historic low. Revenue from stablecoins and RWA issuers increased by $700 million, stablecoin cards and payments added $100 million, and predicted market fees are expected to grow approximately tenfold, estimated to add $300 million. DePIN fees nearly doubled, and middleware (primarily Chainlink) on-chain fees grew by about 70%. While revenue in the DeFi/financial sector has decreased in dollar terms, its share of industry revenue has risen to 64%. Consumer on-chain transaction fees performed better than average, declining by 20%.

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