State of the Network: March 2026

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.