Public companies double share of blockchain revenue since 2022: 1kx report

The meaningful signal here is structural rather than cyclical: value capture on-chain is migrating toward entities with disclosure obligations, which changes how that activity is scrutinized and reported. If listed firms keep taking a larger slice, the blockchain economy becomes legible to traditional equity analysts in a way private, token-native activity never was. What remains unclear from the report is whether this reflects genuine expansion by public companies or simply slower growth among other participants — the distinction matters for how durable the trend is. Watch whether the revenue mix keeps shifting as real-world applications mature.