The Long Tail of Blockchains Turned Out to Be the Main Channel

Ethereum accounted for 31.0% of swaps on SimpleSwap in the first half of 2026, making it the most-used single chain during the period. Everything outside the four biggest chains accounted for 71.4%. Most of us have spent three years expecting the opposite: a few large chains soak up the activity, and the rest fades into noise. [...]

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