blockworks

Blockworks research analyst Shaunda Devens stated that the annual revenue of the Solana-based meme coin issuance platform PumpFun reaches $677 million, with the lowest weekly revenue fluctuations among the top ten protocols. The platform combines launchpad and DEX infrastructure while expanding the consumer layer, with daily trading volume on mobile and Terminal's front end increasing 5.6 times since early July. Cumulative revenue since 2024 has reached $1.37 billion, making it the second highest revenue-generating application this year after excluding stablecoin issuers, only behind Hyperliquid.Devens noted that PUMP is currently trading at a 2.8 times price-to-sales ratio, with its valuation range for PUMP between $0.0108 and $0.0205, equivalent to 2.3 to 4.4 times the current price. The programmatic buyback funded by 50% of revenue absorbs approximately 17.6% of the circulating supply at the current price, with about 77% of allocated insider tokens still unmoved. She mentioned that the team has a treasury of approximately $2 billion.She also stated that 96% of the revenue comes from tokens with a market cap of less than $1 million, with revenue priced in SOL at historical highs. PumpFun accounts for about 70% of the trading volume of Solana meme coins. The revenue for the second quarter was $85.2 million, with a run rate of $125.4 million in the third quarter, representing a 47% quarter-over-quarter growth, with the launchpad contributing $87.1 million and PumpSwap contributing $38.3 million. Daily active users on mobile increased from 5,600 to 34,100.

Blockworks released the XRP Q2 report, with XRP's quarter-end closing price at $1.04, down 19.9%, and a market cap of $65.8 billion, still the fourth largest non-stablecoin asset. XRP ETP net inflow was $253.6 million, marking the third consecutive quarter of positive inflows, totaling over $1.9 billion. CEX spot trading volume was $57.6 billion, down 53.5% quarter-over-quarter, and perpetual contract trading volume decreased by 44%.The supply of XRPL native stablecoins increased by 195.4% quarter-over-quarter to $825.5 million, with RLUSD supply at $676.9 million, up 257%. OKX has launched RLUSD with over 280 spot trading pairs, and the Japanese Financial Services Agency has approved RLUSD as an electronic payment tool, distributed through SBI VC Trade. The total value of tokenized RWAs on XRPL increased by 102.5% quarter-over-quarter to $4.46 billion, setting a new quarterly high, with Justoken's energy-related JMWH accounting for about half. The transfer volume of stablecoins increased by 207.5% quarter-over-quarter to approximately $10 billion, with RLUSD accounting for about 90%.In terms of network activity, total transaction volume was 222.4 million (down 6.5% quarter-over-quarter), daily active addresses were 16,800 (down 10.7%), DEX trading volume was $482.9 million (down 35.9%), and transaction costs fell to $0.00024 (declining for five consecutive quarters). The lending protocols XLS-65/66 received support from 9/35 and 8/35 validators respectively, still 29 votes short of the activation threshold, with a revised version to be submitted in Q3. In terms of institutional collaboration, Ondo, JPMorgan Kinexys, Mastercard, and Ripple completed the tokenization of U.S. Treasury cross-chain redemptions, and Aviva Investors subsequently launched tokenized fund shares on XRPL.

A research report published by Blockworks Research shows that among the 1,972 tokens that first broke through a circulating market value of $50 million between January 2020 and December 2025, only 4.1% outperformed Bitcoin as of June 2026. Among tokens with at least 24 months of historical data, this percentage drops to 1.7%. The median token in the full sample has lost 97% since entering the statistics.The report points out that the token market presents a pyramid structure with a "wider base and thinner top." The number of tokens with a market value exceeding $1 million reached a historical high of 3,648 in December 2024, but the tier with a market value exceeding $250 million has continued to shrink since peaking in November 2021, with only 102 tokens above that threshold as of June 2026, about one-third of the 279 in November 2021. Among the 187 tokens that outperformed Bitcoin during the 2020-21 bull market, 86.1% have since fallen at least 90% from their peak in November 2021, with only OKB continuing to outperform Bitcoin.The report also found that token performance deteriorates more rapidly over time: 86% of tokens issued in 2024 fell below 10% of their initial price within 24 months, while the proportion for tokens from 2020 during the same period was 18%. The median peak price of new tokens after 2023 is only 0.93 times the listing price, meaning it has never exceeded the listing price, while the median peak price for 2020 tokens reached 5.1 times. Exchange tokens are the only significant over-representatives in the long-term outperforming Bitcoin group, with BNB, OKB, GT, LEO, BGB, WBT, MX, and CAKE (PancakeSwap) all outperforming Bitcoin, sharing the common feature of fee revenue being used for regular buybacks and burns. The report's authors state that the crypto market is shifting from a broad token expansion to a pattern driven by a few high-quality assets.

According to the Wall Street Journal, cryptocurrency data provider Blockworks has announced the acquisition of Messari.It is reported that Blockworks will pay over 10 million dollars, while Messari was valued at around 300 million dollars in 2022, making this transaction a significant discount.

According to CNBC, the crypto data and research platform Blockworks announced the completion of its Series A extension financing, with a post-money valuation of $192 million. This round was co-led by Parafi Capital and Reciprocal Ventures, with participation from several institutions including Coinbase Ventures, Advancit Capital, and MoonPay. Over 20 founders and operators from projects such as Solana, LayerZero, Pyth, EigenLayer, Kraken, Arbitrum, and Polygon also participated personally, though the specific financing amount has not been disclosed.The company stated that the crypto market has grown to a trillion-dollar scale without the infrastructure of traditional capital markets, but still faces issues such as data fragmentation, inconsistent disclosures, and a lack of communication mechanisms for investors. Blockworks aims to fill this gap through a "data + disclosure + investor relations" integrated framework.

Web3 asset data platform RootData announced a series of API partnerships on Twitter, with the third being Blockworks. It is reported that the crypto data and research platform Blockworks uses the RootData API to access the latest and historical funding round data, and generates various types of charts to help readers gain cutting-edge insights and perspectives.

Blockworks announced a partnership with Solana to launch the investor relations platform Lightspeed IR, which is designed for professional investors and token issuers.It is reported that Lightspeed IR is a closed professional environment suitable for: liquidity token funds, institutional allocators and asset managers, family offices, as well as Solana ecosystem teams and large token holders.Lightspeed IR will provide the following services: high-fidelity on-chain data accessible on the Solana network and leading applications, powered by Blockworks' data infrastructure; transforming raw on-chain activity into simple, foundational frameworks and institutional research memos for information and communication technology; ecosystem intelligence and investor relations workflows for roadmap updates, KPI packages, governance changes, token events, and direct communication between teams and allocators.

ChainCatcher news, the well-known English crypto media Blockworks has announced the launch of a financing data dashboard utilizing the RootData API. Users can now view the latest and historical financing data, merger transactions, and debt financing activities of Web3 projects on Blockworks to track market trading flows.It is reported that Blockworks is a media and information platform that provides key analysis and information for investors through its editorial website, newsletters, podcasts, conferences, research, and data, helping them make more informed digital asset decisions. In May 2023, Blockworks completed a $13 million financing round, with a valuation of $130 million, led by 10T Holdings, with participation from Framework Ventures, Santiago Roel Santos, and others.RootData co-founder QuanYu stated that in the future, they will collaborate with more authoritative partners inside and outside the industry to create accurate, reliable, and comprehensive Crypto asset data standards.

ChainCatcher news, the crypto media company Blockworks disclosed that as of March 3, only 3 out of 13 editors still hold cryptocurrencies (with a threshold of holdings exceeding $5,000), while the remaining 10 editors no longer hold BTC, ETH, altcoins, NFTs, or equity in crypto companies.Blockworks' statistics may not include stablecoin holdings data.

ChainCatcher news, according to Blockworks, crypto media Blockworks has announced the acquisition of the podcast and newsletter network The Breakdown, founded by Nathaniel Whittemore (NLW), with the specific amount undisclosed.It is reported that The Breakdown's products include The Breakdown podcast, YouTube channel, dedicated newsletter, and Bitcoin Builders podcast, which have now become part of Blockworks.

ChainCatcher news, Blockworks personnel @MikeIppolito_ posted on social media that the Twitter account of its founder Yano has been hacked. Users are advised to ignore all tweets and direct messages from this account and to be aware of the risks.

ChainCatcher message, Blockworks Research has initiated a community proposal on Arbitrum to establish the Arbitrum Alliance, led by Blockworks Research, Gauntlet, and Trail of Bits, for a duration of 12 months, aimed at helping Arbitrum DAO members turn their ideas into reality.It is reported that the total cost of the alliance for one year will be based on the 30-day VWAP price of ARB on the day before the on-chain proposal, estimated to require approximately 2.2 million ARB, of which 1/4 of the funds will be pre-paid to each alliance member 91 days after the execution of the AIP, and the remaining 3/4 will be paid in installments over 274 days. The flow of funds will remain under the control of the DAO and can be cut off at any time through on-chain DAO proposals.

ChainCatcher news, Blockworks founder Mike Ippolito stated that due to changes in revenue strategy, subscriptions and services contributed 51% of Coinbase's Q2 revenue.It is reported that Coinbase CEO Brian Armstrong mentioned last year regarding the shift in revenue model, "Ultimately, subscriptions and services will account for a large portion of our revenue."

ChainCatcher news, according to Axios, crypto media company Blockworks has completed a $12 million funding round at a post-money valuation of $135 million, led by 10T Holdings with participation from Framework Ventures and Santiago Santos. (Source link)

ChainCatcher news, Blockworks Research tweeted that a vote has been initiated for the Arbitrum Improvement Proposal (AIP-1), while expressing a commitment to improving DAO governance and transparency, whereas AIP-1 signifies a regression in the current state of community governance.In addition, Blockworks Research stated that its core focus is on the 750 million ARB tokens valued at over $1 billion, which appear to be controlled by the Arbitrum Foundation operated by the three initial directors: Campbell Law, Edward Noyons, and Ani Banerjee.Earlier, ChainCatcher reported that the Arbitrum Foundation began selling ARB tokens in exchange for stablecoins before its governance community of token holders "approved" the organization's budget of nearly $1 billion, sparking controversy within the community. Previously, on April 1, the Arbitrum community initiated the Arbitrum Improvement Proposal 1 (AIP-1) to introduce a decentralized autonomous organization structure called ArbitrumDAO, with the entity behind the proposal, Lemma, also applying for a grant of 750 million ARB tokens (valued at approximately $1 billion). (source link)