Investment firm 1kx projects blockchain industry revenue will reach $100 billion in 2026, a 28% downward revision from prior estimates due to price volatility. The annual report covers over 2,600 protocols and more than 100 publicly listed companies. Institutional adoption and broader economic applications are driving structural shifts in revenue composition. Revenue from these sectors rose to 30% of total blockchain income in 2026, with broader economic revenue surpassing infrastructure-level revenue for the first time in Q3. Publicly listed companies now account for 16% of blockchain revenue, up from 7% in 2022. A record 283 protocols returned value to token holders during Q3 through mechanisms including token buybacks, burns, and fee sharing. Despite high market concentration, leading positions among protocols continue to rotate.