March 2026 State of the Network Report
This report provides an overview of the Swarm network’s key metrics for March 2026, including rewards, participation levels, and node distribution, and places them in context with recent monthly trends.
Network Total Monthly Rewards
This metric shows the total storage incentive rewards paid out across the network each month.
| Month | Total Network Rewards (xBZZ) |
|---|---|
| October | 28,337 |
| November | 39,109 |
| December | 38,477 |
| January | 31,172 |
| February | 20,967 |
| March | 16,450 |
Total network rewards in March were 16,450 xBZZ, down from 20,967 xBZZ in February.
Monthly Median Win Values
| Month | Median Win (xBZZ) |
|---|---|
| October | 8.10 |
| November | 12.04 |
| December | 11.53 |
| January | 9.21 |
| February | 6.72 |
| March | 4.76 |
The median win value in March was 4.76 xBZZ, down from 6.72 xBZZ in February.
Monthly Average Win Values
| Month | Average Win (xBZZ) |
|---|---|
| October | 8.34 |
| November | 13.09 |
| December | 11.68 |
| January | 9.25 |
| February | 6.78 |
| March | 4.81 |
The average win value in March was 4.81 xBZZ, down from 6.78 xBZZ in February.
Active Staking Node Monthly Average Earnings
| Month | Avg Total Earnings per Node (xBZZ) |
|---|---|
| October | 8.33 |
| November | 19.40 |
| December | 18.68 |
| January | 16.07 |
| February | 11.62 |
| March | 9.08 |
Average earnings per active staking node in March were 9.08 xBZZ, down from 11.62 xBZZ in February.
Total Active Staking Nodes by Month
| Month | Total Active Staking Nodes |
|---|---|
| October | 3,400 |
| November | 2,018 |
| December | 2,060 |
| January | 1,939 |
| February | 1,804 |
| March | 1,812 |
Total active staking nodes in March were 1,812, a slight increase from 1,804 in February.
Total Reachable Full Nodes Regardless of Active Status
| Month | Total Reachable Full Nodes |
|---|---|
| October | 7,071 |
| November | 5,299 |
| December | 4,760 |
| January | 4,270 |
| February | 4,086 |
| March | 4,089 |
Total reachable full nodes in March were 4,089, nearly unchanged from 4,086 in February.
Total Winning Nodes by Month
| Month | Total Winning Nodes |
|---|---|
| October | 1,668 |
| November | 1,433 |
| December | 1,513 |
| January | 1,456 |
| February | 1,427 |
| March | 1,471 |
Total winning nodes in March were 1,471, up from 1,427 in February.
Total Active Staking Nodes by Country
| Country | Total Active Staking Nodes |
|---|---|
| Finland | 1,705 |
| Unknown | 44 |
| Canada | 16 |
| Germany | 11 |
| Hungary | 8 |
| Norway | 7 |
| Ireland | 4 |
| United States | 4 |
| Estonia | 3 |
| Brazil | 1 |
| Cyprus | 1 |
| India | 1 |
| Japan | 1 |
| Martinique | 1 |
| Russia | 1 |
| Slovakia | 1 |
| Slovenia | 1 |
| Spain | 1 |
| Ukraine | 1 |
Finland continues to dominate active staking node distribution with 1,705 of 1,812 nodes (94%), consistent with the concentration seen in February.
Total Nodes By Country Regardless of Staking Status
| Country | Total Full Nodes |
|---|---|
| Germany | 2,158 |
| Finland | 1,651 |
| France | 154 |
| Canada | 61 |
| India | 17 |
| Hungary | 11 |
| Lithuania | 8 |
| United States | 8 |
| Estonia | 3 |
| Czechia | 2 |
| Russia | 2 |
| Unknown | 2 |
| Australia | 1 |
| Austria | 1 |
| Brazil | 1 |
| Ireland | 1 |
| Italy | 1 |
| Japan | 1 |
| Netherlands | 1 |
| Singapore | 1 |
| Slovakia | 1 |
| Slovenia | 1 |
| South Africa | 1 |
| Ukraine | 1 |
Germany leads total reachable full node distribution with 2,158 nodes, followed by Finland with 1,651, together accounting for the large majority of the network’s 4,089 reachable full nodes.
Conclusion
March 2026 saw continued declines in reward metrics, with total network rewards falling to 16,450 xBZZ from 20,967 xBZZ in February, and both median and average win values declining accordingly. Active staking node count remained nearly flat at 1,812, while total reachable full nodes held stable at 4,089, suggesting the network’s infrastructure base is consolidating. Geographic distribution remained largely unchanged, with Finland continuing to account for the majority of active staking nodes and Germany leading total full node counts.
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