1kx published its H1 2026 crypto industry revenue report, putting total industry revenue at $47 billion, down 23% year over year. The report attributes the decline to two main forces. Financial-related revenue came in below 2024 levels: combined revenue at centralized exchanges, derivatives platforms and market makers fell $5.2 billion; onchain DeFi revenue dropped $1.8 billion, a 32% decrease; and ETF and fund management fees shrank by $1.1 billion. Blockchain-related income kept sliding, with staking and mining rewards down $6.2 billion and transaction fees plus MEV cut in half. That category now accounts for just 25% of total industry revenue, a record low. Not every segment retreated. Stablecoin and RWA issuers added $700 million; stablecoin cards and payments added $100 million; prediction market fees grew roughly tenfold, an estimated $300 million gain; DePIN fees nearly doubled; and middleware onchain fees, led by Chainlink, rose about 70%. DeFi/financial revenue declined in dollar terms but its share of industry revenue climbed to 64%. Consumer onchain fees fell 20%, better than the industry average.
PANews, Aug. 13 – 1kx released its H1 2026 crypto industry revenue report, putting total industry revenue at $47 billion, down 23% year over year.
The report splits the decline into two buckets. Financial-related revenue came in below 2024 levels: combined revenue at centralized exchanges, derivatives venues and market makers fell $5.2 billion; onchain DeFi revenue dropped $1.8 billion, or 32%; and ETF and fund management fees shrank by $1.1 billion. Blockchain-related income kept sliding, with staking and mining rewards down $6.2 billion and transaction fees plus MEV cut in half. That category now represents 25% of total industry revenue, the lowest share on record.
What grew: stablecoins, prediction markets, middleware
Not every segment retreated. Stablecoin and RWA issuers added $700 million in revenue; stablecoin cards and payments added $100 million. Prediction market fees rose roughly tenfold, an estimated $300 million increase. DePIN fees nearly doubled, while middleware onchain fees led by Chainlink grew about 70%.
DeFi's share climbs to 64%
DeFi and financial revenue was smaller in dollar terms, but its share of industry revenue climbed to 64%. Consumer onchain fees fell 20%, a better result than the industry average.
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