1kx

2026-08-13 22:11

1kx: Crypto Industry H1 2026 Revenue Down 23% YoY, with Stablecoins, RWA and Other Counter-Cyclical Sectors Growing

Odaily News: According to data from crypto investment firm 1kx, total revenue in the global crypto industry for H1 2026 fell to $47 billion, down 23% year-over-year, a decrease of approximately $14 billion compared to the same period last year. The firm stated that the revenue decline is consistent with bear market cycle characteristics, as traditional crypto revenue streams such as exchanges, brokerage services, wallets, staking, and mining remain highly dependent on asset prices and trading volumes.1kx pointed out that this round of revenue decline primarily stems from two major areas. On one hand, finance-related revenue saw a noticeable decline. Revenue from centralized exchanges (CEX), derivatives platforms, and market makers decreased by $5.2 billion year-over-year; on-chain DeFi revenue dropped by $1.8 billion, down 32% YoY; and ETF and fund management fee revenue fell by $1.1 billion. On the other hand, blockchain infrastructure revenue continued to weaken. Staking and mining reward revenue decreased by $6.2 billion, while on-chain transaction fees and MEV revenue nearly halved. Currently, blockchain infrastructure revenue accounts for just 25% of total crypto industry revenue, hitting an all-time low.However, not all sectors have been affected by the cycle. Low-cyclicality businesses such as stablecoins, real-world asset (RWA) issuance, prediction markets, and decentralized physical infrastructure networks (DePIN) grew 14% against the trend in H1, reaching $12 billion in revenue and rising to 26% of total industry revenue. Among them: stablecoin and RWA issuer revenue increased by $700 million; stablecoin payment cards and payment businesses grew by approximately $100 million; prediction market fee revenue surged about 10-fold, adding roughly $300 million; DePIN fee revenue nearly doubled; and on-chain middleware revenue grew about 70%, primarily driven by Chainlink.1kx stated that although DeFi and financial business revenue declined in absolute terms, they still hold the largest share of the industry, rising to 64%. Consumer on-chain application revenue performed relatively more steadily, declining approximately 20% year-over-year. For comparison, at the lowest point of the previous crypto bear market cycle (H2 2022), industry semi-annual revenue was approximately $28 billion, while the current bear market period has maintained $47 billion in revenue during the same timeframe, with roughly a quarter coming from emerging businesses that continued to grow during the bear market.1kx noted that its revenue accounting methodology includes trackable on-chain transaction fee revenue, staking yields and other income, as well as off-chain revenue publicly disclosed by Coinbase or estimated for platforms such as Binance. The composition of these three revenue categories has remained largely stable compared to last year.

ALLO

Binance

Chainlink

Coinbase

RWA Inc.

Xend Finance

2026-07-31 10:40

Crypto card issuer Kulipa suddenly collapses, Ready, Solflare and multiple other crypto card projects forced to halt

According to The Defiant, Paris-based startup Kulipa suddenly ceased operations due to solvency issues, causing the simultaneous disruption of card projects for approximately 20 crypto wallets and fintech companies it served. Self-custody wallet Ready (formerly Argent) and Solana wallet Solflare were both affected, with user card services immediately disabled. Since both wallets utilize a self-custody architecture, funds are deducted from user wallets only at the time of spending, so user assets remained unaffected. Notably, Kulipa completed a $6.2 million seed funding round co-led by Flourish Ventures and 1kx in April this year, only about 4 months prior to its collapse.

Argent

based

Defiant

Kulipa

Solana

Solflare

2026-07-24 09:37

1kx: Q2 On-Chain Fees Down 33% YoY, Token Allocation Maintains Stability Against the Trend

According to crypto VC firm 1kx (@1kxnetwork), total on-chain fees in Q2 2026 decreased 33% year-over-year, exhibiting typical bear market characteristics. Among them, DEX fees saw the largest decline, down 57% year-over-year, a decrease of approximately $625 million, with Meteora, Raydium, and PancakeSwap being the main drags; blockchain and MEV fees decreased by $40 million (-40%); Pump.fun drove Launchpad-type fees down 57%. In terms of highlights, perpetual contracts and prediction markets grew counter-trend by 22%, led by edgeX and Hyperliquid, with Polymarket's single-quarter fees approaching $100 million; lending and asset management sectors continued compound growth, with Morpho, USDai, and Maple Finance each contributing between $9 million and $19 million; Canton Network added $179 million in L1 fees, and both it and Polymarket entered the Fee Top 20 for the first time.

Canton Network

Chain

edgeX

Hyperliquid

Maple Finance

Meteora

2026-07-13 16:49

KOR completes $7.5 million Series A funding at a post-money valuation of $100 million

Odaily Reports, qinbafrank posted on the X platform stating that KorProtocol announced the completion of a $7.5 million Series A funding round, co-led by 1kx and Blockchain Capital, at a post-money valuation of $100 million. Other participants include Republic, Animoca, Solana, Avalanche, and others. Through its three core engines — Verify, Route, and Settle — KOR transforms creative assets into on-chain assets that are verifiable, matchable, and automatically settled. The Verify engine allows creators to register their works on-chain, recording provenance, ownership, and licensing terms. The Route engine uses data and AI to match creators, assets, labels, brands, platforms, and agencies. The Settle engine enables instant automatic revenue sharing via smart contracts and USDC on the Base chain, supporting complex split rules and recurring income. KOR currently has over 1 million registered users, more than $2 million in revenue, over 285,000 NFTs, and over 1,000 IP partners, and has collaborated with deadmau5 and "Black Mirror." Following the funding, KOR will continue to expand its IP supply, deepen partnerships, and advance network expansion.

AINFT

Avalanche

Base

Circle

Mirror

2026-07-07 23:57

KOR Protocol Completes $7.5 Million Series A Financing, Valuation $100 Million

According to The Block, entertainment sector on-chain clearinghouse KOR Protocol announced the completion of a $7.5 million Series A funding round at a $100 million valuation. Investors include 1kx, Blockchain Capital, as well as previous investors such as Republic Crypto, Sfermion, Alumni Ventures, and SevenX.

Block

KOR Protocol

Republic

The Block

2026-06-17 23:04

EarnOS Secures $6 Million Pre-A Funding Round with Participation from Coinbase Ventures and Others

EarnOS, a blockchain-based digital advertising startup, has announced the completion of a $6 million Pre-A funding round, led by 1kx with participation from Coinbase Ventures, Circle Ventures, and Social Graph Ventures. Additionally, EarnOS has secured a four-year, $12.5 million non-dilutive strategic investment from Verona (formerly XION) to support application verification, user onboarding, and reward distribution systems. The company also announced a brand restructuring, noting that its L1 network will provide underlying support for EarnOS, enabling large-scale user authentication and task incentive mechanisms. (The Block)