December 2025 State of the Network Report
This report provides an overview of the Swarm network’s key metrics for December 2025, 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) |
|---|---|
| July | 37,249 |
| August | 41,496 |
| September | 28,162 |
| October | 28,337 |
| November | 39,109 |
| December | 38,477 |
Total network rewards in December reached 38,477 xBZZ, representing a slight decrease compared to November’s 39,109 xBZZ.
Monthly Median Win Values
| Month | Median Win Values (xBZZ) |
|---|---|
| July | 10.00 |
| August | 11.07 |
| September | 8.33 |
| October | 8.10 |
| November | 12.04 |
| December | 11.53 |
The median win value in December was 11.53 xBZZ, slightly lower than November’s 12.04 xBZZ.
Monthly Average Win Values
| Month | Average Win Values (xBZZ) |
|---|---|
| July | 11.07 |
| August | 12.28 |
| September | 8.60 |
| October | 8.34 |
| November | 13.09 |
| December | 11.68 |
Average win values decreased to 11.68 xBZZ in December from 13.09 xBZZ in November.
Active Staking Node Monthly Average Earnings
| Month | Avg Total Earnings per Node (xBZZ) |
|---|---|
| July | 10.79 |
| August | 11.33 |
| September | 7.73 |
| October | 8.33 |
| November | 19.40 |
| December | ≈ 18.68 |
Average earnings per active staking node in December were approximately 18.68 xBZZ, slightly below November’s 19.40 xBZZ. Despite this small decline, per-node earnings remain historically high compared to the preceding months.
Total Active Staking Nodes by Month
| Month | Total Active Staking Nodes |
|---|---|
| July | 3,453 |
| August | 3,663 |
| September | 3,643 |
| October | 3,400 |
| November | 2,018 |
| December | 2,060 |
The total number of active staking nodes increased slightly to 2,060 in December, up from 2,018 in November.
Total Reachable Full Nodes Regardless of Active Status
| Month | Total Reachable Full Nodes |
|---|---|
| July | 9,753 |
| August | 7,097 |
| September | 7,063 |
| October | 7,071 |
| November | 5,299 |
| December | 4,760 |
Total reachable full nodes declined further to 4,760 in December, down from 5,299 in November.
Total Winning Nodes by Month
| Month | Total Winning Nodes |
|---|---|
| July | 1,806 |
| August | 1,738 |
| September | 1,701 |
| October | 1,668 |
| November | 1,433 |
| December | 1,513 |
The number of winning nodes increased to 1,513 in December, up from 1,433 in November. This indicates that, despite fewer overall reachable nodes, a slightly larger portion of active participants successfully won rewards during the month.
Total Active Staking Nodes by Country
| Country | Total Active Staking Nodes |
|---|---|
| Finland | 1963 |
| Unknown | 61 |
| Hungary | 11 |
| Ireland | 4 |
| Estonia | 3 |
| India | 3 |
| France | 2 |
| Germany | 2 |
| Spain | 2 |
| United States | 2 |
| Brazil | 1 |
| Japan | 1 |
| Martinique | 1 |
| Portugal | 1 |
| Russia | 1 |
| Thailand | 1 |
| Ukraine | 1 |
Active staking nodes in December continue to be heavily concentrated in Finland, which accounts for the majority of active participants.
Total Nodes By Country Regardless of Staking Status
| Country | Unique nodes |
|---|---|
| Germany | 2412 |
| Finland | 1839 |
| Thailand | 140 |
| Unknown | 64 |
| Hungary | 11 |
| Ireland | 5 |
| United States | 4 |
| Canada | 3 |
| Estonia | 3 |
| Russia | 3 |
| Switzerland | 2 |
| Australia | 1 |
| Brazil | 1 |
| Czechia | 1 |
| France | 1 |
| Japan | 1 |
| Lithuania | 1 |
| Malaysia | 1 |
| Singapore | 1 |
| Slovenia | 1 |
| Spain | 1 |
| The Netherlands | 1 |
| Ukraine | 1 |
When considering all reachable nodes regardless of staking activity, Germany and Finland continue to dominate the network by a wide margin.
Conclusion
December 2025 reflects a period of partial stabilization following November’s more pronounced shifts. While rewards and win values decreased slightly, they remain elevated compared to earlier months. Participation metrics show mixed signals: active and winning node counts recovered modestly, but the total number of reachable full nodes continued to decline.
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