COIN
Coinbase Global
$38,572.84 Mn
146.23
-2.87%
-54.41%
Coinbase provides the underlying infrastructure for the digital asset ecosystem, including the Base blockchain where it earns sequencer fees and the Coinbase Developer Platform for third-party onchain integration. These activities involve building the rails and tools for the digital asset economy, which is the core of its Developer segment.
CRCL
2nd
Circle Internet
$17,081.09 Mn
71.75
-3.91%
-49.32%
The company builds foundational blockchain infrastructure, including the Arc Layer-1 blockchain network, Circle Wallets for app integration, and Circle Contracts for smart contract development.
GLXY
2nd
Galaxy Digital
$3,940.32 Mn
20.43
-6.58%
-23.74%
The firm provides infrastructure solutions including staking services for validating blockchain networks and the tokenization of real-world assets.
BLSH
Bullish
$3,713.53 Mn
24.62
-1.48%
-61.15%
Bullish operates the Bullish Exchange, a platform for trading digital assets and cryptocurrencies, and provides blockchain-related data and indices. Its core business model revolves around building the rails and tools for the digital asset ecosystem, including trading fees and API subscriptions for market data.
VBNK
2nd
VersaBank
$642.30 Mn
19.95
-0.20%
+87.32%
The RBDT segment develops and commercializes proprietary blockchain-based digital token solutions, earning revenue through technology licensing and infrastructure support for the financial community.
BTQ
2nd
BTQ Technologies
$521.70 Mn
3.70
-3.90%
+32.14%
The company is developing blockchain-based infrastructure, specifically the Bitcoin Quantum fork and the QSSN quantum stablecoin settlement network, with revenue models based on validator node fees and transaction fees.
OWLS
2nd
Obook Holdings
$481.82 Mn
5.45
+0.37%
—
The company builds blockchain-powered infrastructure for stablecoin on/off-ramps, cross-chain transaction capabilities, and wallet services via OwlPay Wallet Pro and OwlPay Harbor.
CNTN
Canton Strategic Holdings
$417.49 Mn
2.01
-0.99%
+54.62%
The company's current strategic priority is digital asset treasury management, specifically operating as a Super Validator on the Canton Network to earn protocol-based validation rewards in Canton Coin (CC). It also invests in blockchain middleware and applications to increase network utilization and transaction activity.
SCTH
2nd
Securetech Innovations
$384.58 Mn
22.52
+8.53%
+385.34%
The company builds secure blockchain infrastructure and operates digital asset platforms, earning transaction fees from these services.
BKKT
Bakkt
$312.26 Mn
6.93
-2.67%
-25.00%
Bakkt builds digital financial infrastructure for the digital asset economy, providing a platform for trading, custody, and payment services. Its Bakkt Agent solution specifically provides programmable access to this infrastructure via APIs and modular architecture for institutional clients.
CNCK
Coincheck
$272.52 Mn
2.01
+0.50%
-58.47%
Coincheck provides the infrastructure for a crypto asset exchange, including an NFT marketplace and an IEO platform. It facilitates the trading, staking, and lending of digital currencies for retail and institutional users.
DVLT
2nd
Datavault AI
$240.95 Mn
0.39
+21.87%
-16.68%
The company operates within the Web 3.0 ecosystem, utilizing blockchain technology, 'Sumerian crypto anchors', and real-world asset tokenization to enable secure data commerce and institutional-grade smart contract capabilities.
BGIN
2nd
Bgin Blockchain
$217.22 Mn
1.92
-11.93%
—
The company operates mining pools, specifically a KAS-focused pool, where it earns fees for providing the infrastructure that allows participants to combine computing power.
WEWA
Wewards
$214.97 Mn
2.00
+0.00%
-5.21%
Wewards has developed a web-based platform for Bitcoin rebates and a blockchain-based game (Megopoly) that allows users to earn fractions of Bitcoin. The company's core business is building the infrastructure for a blockchain-based loyalty and gaming ecosystem.
FUFU
2nd
Bitfufu
$210.41 Mn
1.29
+0.00%
-62.82%
BitFuFu provides cloud mining services through its proprietary Aladdin system, which manages large-scale hash calculation and allows customers to purchase hash rate contracts. This constitutes the provision of blockchain infrastructure and tools for digital asset mining.
EXOD
Exodus Movement
$190.34 Mn
6.32
-5.25%
-76.22%
Exodus provides a self-custodial wallet platform for managing digital assets and develops the Exchange Aggregator technology. Its core product is the software infrastructure (wallets and APIs) that enables users to store, send, and receive digital assets without a central custodian.
UTKN
Universal Token
$184.84 Mn
1.82
+0.00%
-57.28%
Universal Token develops the UTKN platform and developer infrastructure using the Universa Blockchain to enable real-world asset tokenization. Its revenue is derived from licensing and integration services for this blockchain-based tokenization infrastructure sold to businesses and governments.
ZNB
2nd
Zeta Network
$158.94 Mn
2.23
+5.19%
-99.01%
The company is building a Bitcoin-centric institutional finance platform that integrates digital asset treasury management and Bitcoin liquidity aggregation.
CYPH
Cypherpunk Technologies
$149.31 Mn
0.81
+14.08%
+179.31%
The company's core mission is the advancement of privacy-preserving technologies and it is heavily invested in the Zcash ecosystem, including investments in wallet development. It positions itself as a privacy technology company focused on confidential financial transactions and the Zcash network.
TONX
TON Strategy
$148.11 Mn
2.62
-7.09%
-87.57%
The company operates as a digital asset treasury and Web3 ecosystem company, specifically managing corporate holdings of Toncoin and performing staking activities to secure and validate the TON blockchain. It generates significant revenue from staking rewards earned through these blockchain infrastructure activities.
USBC
Usbc
$147.49 Mn
0.38
+2.70%
-73.61%
The company's primary focus is developing a tokenized deposit platform that represents U.S. dollar deposits on a blockchain. It intends to sell this capability via APIs to fintech partners and institutional clients for cross-border treasury management.
ANTA
2nd
Antalpha Platform Holding
$145.51 Mn
3.87
+8.10%
-67.40%
The company builds and operates the infrastructure for the digital asset ecosystem, specifically providing the rails for loans secured by Bitcoin and Ethereum and facilitating settlements in USDT.
WSKEF
2nd
Wisekey International Holding
$142.04 Mn
12.50
+0.00%
+418.67%
The company operates SEALCOIN and WISe.ART, which utilize blockchain and NFTs to enable autonomous device-to-device transactions and digital certificates of ownership for the art market.
STEX
Streamex
$136.18 Mn
0.78
-13.33%
-85.77%
Streamex operates the Streamex Exchange platform, which provides infrastructure for the issuance, trading, and custody of digital tokens backed by tangible assets. The company generates revenue from issuance fees, trading fees, and smart contract enforcement for these blockchain-based assets.
FRMM
Forum Markets
$110.91 Mn
5.46
-7.30%
-92.63%
ETHZilla builds and operates proprietary protocol implementations that serve as the technological foundation for facilitating DeFi transactions and asset digitization across Layer 2 Ethereum networks. The company provides infrastructure for smart contract development, testing, and deployment, and plans to offer blockchain analytics tools and tokenization solutions.
DFDV
2nd
DeFi Development
$94.19 Mn
3.08
-2.53%
-82.94%
The company operates its own Solana validators and manages a digital asset treasury strategy, earning revenue from inflationary rewards and transaction fees within the blockchain ecosystem.
AIFC
2nd
AI Financial
$65.72 Mn
0.47
+11.90%
-92.32%
The company operates ALT5 Prime, an electronic over-the-counter trading platform that allows registered institutional customers to buy and sell digital assets.
BLNC
2nd
Balance Labs
$52.01 Mn
1.11
-28.39%
+30.59%
The company assists enterprise clients in designing, launching, and operating blockchain-based tokens and related digital infrastructure. This activity involves providing the technical and structural consulting necessary to build the rails of the digital asset ecosystem.
HYPD
Hyperion Defi
$41.31 Mn
2.70
-4.93%
-63.81%
The company's primary current revenue is generated from the Digital Assets segment, specifically through staking HYPE tokens, operating validator nodes, and providing HYPE Asset Service (HAUS) to DeFi protocols. These activities involve building blockchain infrastructure and managing digital asset utilities for institutional investors and DeFi operators.
FIEE
2nd
FiEE
$39.48 Mn
4.74
-15.81%
+65.16%
The company provides digital authentication services for artworks using blockchain certification and digital passport generation to offer tamper-proof provenance tracking.
STKE
SOL Strategies
$37.79 Mn
1.04
+2.97%
-85.25%
SOL Strategies operates validator nodes on the Solana blockchain and provides staking services to institutional and retail customers. It also develops proprietary blockchain infrastructure tools and platforms, such as Stakewiz.com, to enhance staking efficiency.
BTCS
Btcs
$35.85 Mn
1.08
-3.57%
-77.82%
BTCS operates validator nodes and proprietary block builders on the Ethereum network, which are core components of blockchain infrastructure. These activities generate revenue from protocol rewards and execution layer transaction fees, fitting the description of building the rails for the digital asset ecosystem.
ZTG
2nd
Zenta
$22.89 Mn
1.94
-40.67%
—
The company's Fintech Services segment develops and distributes blockchain platforms, earning revenue through one-time service fees for these solutions.
QCLS
2nd
Q
$22.03 Mn
2.69
-4.27%
-73.63%
The company specifically targets the blockchain infrastructure market, providing computing capacity for decentralized physical infrastructure networks (DePin Tokens) and blockchain-based computations.
TGHL
2nd
GrowHub
$19.18 Mn
0.84
-8.70%
—
The company builds and operates a public blockchain-based traceability solution hosted on the Polygon network to ensure data immutability. It positions itself as a pioneer of public blockchain infrastructure in the Asia Pacific region.
CBLO
C2 Blockchain
$18.64 Mn
0.04
+0.00%
-71.43%
The company describes itself as a blockchain infrastructure company and maintains a digital asset treasury of DOG Coins, a Bitcoin-native token issued on the Runes protocol. Its primary revenue is derived from staking rewards on these cryptocurrency holdings.
GNLN
Greenlane Holdings
$12.46 Mn
3.05
+51.74%
-89.29%
The company's primary strategic focus is a digital asset treasury strategy involving the Berachain blockchain, where it earns revenue by running validator nodes to earn block rewards and providing liquidity to decentralized finance protocols.
OXBR
2nd
Oxbridge Re Holdings
$10.94 Mn
1.35
-1.46%
-21.05%
Through its subsidiary SurancePlus, the company operates a tokenization business that issues digital securities representing fractional interests in reinsurance contracts, such as the DeltaCat and EpsilonCat series. This involves building the rails for tokenizing financial assets into digital securities for accredited investors.
AIXC
AIxCrypto Holdings
$10.17 Mn
1.32
+85.92%
-30.53%
The company develops software infrastructure for the tokenization of real-world assets and operates the AIxC Hub, which includes validator economics and protocol-level participation mechanisms. These activities center on building the rails and tools for a digital asset ecosystem using distributed ledger networks and smart contracts.
PDC
Perpetuals.com
$9.40 Mn
3.08
-0.96%
+4.41%
The company develops and provides services based on its proprietary Grid Ledger System (GLS), a blockchain infrastructure designed for high-speed transaction approval and real-time data processing. It sells the ability to leverage digital assets and blockchain technology to clients across various sectors.
LOTT
Techlott
$8.91 Mn
0.01
+0.00%
+0.00%
AppYea provides blockchain-based infrastructure for the lottery industry, specifically utilizing smart contracts for ticket recording and prize distribution, and integrating blockchain networks like Binance Smart Chain. Its core product is a modular technology stack that provides the rails for decentralized lottery operations.
IPST
Ip Strategy Holdings
$8.10 Mn
15.76
+113.26%
-92.27%
The company operates validator nodes on the Story Network to earn staking rewards, gas fees, and commissions from third-party delegations of $IP Tokens. It also manages a digital asset treasury and provides validator services to institutional and retail participants in the digital asset ecosystem.
BNKK
2nd
Bonk
$7.32 Mn
0.93
-5.10%
-95.62%
The company operates a Digital Assets segment where it manages BONK tokens and participates in revenue sharing agreements related to blockchain-based platforms like LetsBonk.fun.
APUS
2nd
Apimeds Pharmaceuticals US
$5.32 Mn
4.23
+6.28%
-75.83%
The company operates a Digital Asset Treasury platform providing institutional infrastructure for Bitcoin reserve management, including secure wallet architecture and validator services. It also utilizes a native token, $NILA, for governance and utility within this blockchain-based ecosystem.
IONI
I-ON Digital
$5.12 Mn
0.15
+7.14%
-83.52%
I-ON Digital develops blockchain infrastructure, including a proprietary hybrid blockchain architecture and smart contracts, to enable the tokenization and digitization of real-world assets like gold. It generates revenue from the sale of this proprietary blockchain technology and the development of custom blockchain solutions for enterprise clients.
ENLV
2nd
Enlivex
$4.63 Mn
1.52
-3.80%
+21.60%
The company operates a digital asset treasury strategy utilizing the RAIN prediction markets protocol, engaging in staking, restaking, and decentralized finance protocols on the Arbitrum network to generate revenue.
CNET
2nd
ZW Data Action Technologies
$4.51 Mn
1.38
+5.34%
+1.47%
The company operates a blockchain-based SaaS segment via the BIF platform, providing NFT management, data record and storage, and blockchain-powered enterprise management solutions.
SMX
2nd
SMX (Security Matters) Public
$4.46 Mn
15.24
+4.46%
-97.45%
The company utilizes and sells a blockchain platform to verify the origin and movement of goods, generating revenue from blockchain data storage and verification services.
SONM
2nd
Dna X
$4.20 Mn
3.32
-0.60%
-65.70%
The company develops custom software modifications for its platform and provides tools for building and duplicating automated trading strategies, which constitutes blockchain-based trading infrastructure.
AVX
2nd
Avax One Technology
$4.03 Mn
2.95
-3.28%
-91.61%
The company manages a digital asset treasury focused on AVAX tokens and earns revenue through staking rewards directly from the Avalanche network. This activity involves interacting with blockchain infrastructure to earn yield on native cryptocurrency holdings.
KRFG
2nd
King Resources
$2.50 Mn
0.23
+0.00%
-84.67%
The company employs blockchain technology and non-fungible tokens (NFTs) to create digital ownership tokens that record title and provenance for collectibles, providing a digital infrastructure for asset ownership.
GRHI
2nd
Gold Rock Holdings
$2.38 Mn
0.01
+0.00%
-50.00%
The LOOT8 subsidiary operates a Web3 Commerce and Content Management Engine that leverages multiple public blockchains and the IPFS file system to enable digital collectible sales and SocialFi monetization.
DCX
Digital Currency X Technology
$2.17 Mn
0.93
-2.11%
-99.95%
The company operates DexTrader, an on-chain data platform for decentralized exchanges, and engages in token staking via smart contracts. These activities constitute the core of its 'Technology and Digital Asset Management' segment, focusing on the infrastructure and tools of the digital asset ecosystem.
EBZT
2nd
Everything Blockchain
$1.66 Mn
0.07
+0.00%
-78.79%
The company builds blockchain infrastructure, specifically a private business blockchain with a proprietary consensus algorithm used to power its BuildDB platform.
WAST
2nd
Waste Energy
$1.38 Mn
0.01
+0.00%
-75.00%
Through its CurrencyWorks USA Inc. segment, the company provides blockchain and cryptocurrency technology services for businesses integrating digital assets into their operations.
ATMH
2nd
All Things Mobile Analytic
$0.34 Mn
0.06
+0.00%
-14.29%
The company's core activities include building a professional digital asset exchange and developing blockchain-based digital solutions.
BTMCQ
2nd
Bitcoin Depot
$0.32 Mn
0.02
-33.33%
-99.93%
The company provides the BitAccess platform, which sells software licensing and transaction processing capabilities to third-party Bitcoin ATM operators.
GROO
Groovy Company
$0.07 Mn
0.01
+0.00%
—
Groovy Company develops the OTCM Protocol, a blockchain infrastructure and Layer-2 solution on Solana used for the tokenization of securities. Its revenue is derived from the development and deployment of this protocol, including a proprietary automated market-making (AMM) engine and mobile wallet infrastructure.
BEGI
2nd
Blackstar Enterprise
$0.00 Mn
0.00
—
—
The company is developing the BlackStar Digital Trading Platform (BDTP™), a blockchain-based software platform for trading electronic fungible shares, which it intends to license as a PaaS subscription service.
BHATF
2nd
Blue Hat Interactive Entertainment Technology
$0.00 Mn
0.00
—
-100.00%
The company provides gold tokenization services, which involves building the rails or tools for the digital asset ecosystem using blockchain technology.
PNXP
Pineapple Express Cannabis
$0.00 Mn
0.00
—
-100.00%
The company owns and operates GROOVY Company, Inc., which provides a blockchain-based Platform as a Service (PaaS) featuring NFT-based QR code authentication and a genetic library for IP registration. This business line focuses on building the blockchain rails and tools for authentication and traceability within the cannabis ecosystem.
RWAX
2nd
Tap Real Estate Technologies
$0.00 Mn
0.00
—
—
The company utilizes blockchain technology to enable tokenized ownership of assets and provides a platform for the creation and management of these digital tokens.