Crypto cards are transitioning into mainstream payment instruments: analytics over 76 weeks
The crypto card market is undergoing fundamental changes. My analysis of data from 16 different cards—ranging from RedotPay and Cypher to GnosisPay—for the period from January 2025 to June 2026 has revealed three key trends that indicate this tool is transitioning from a niche to a mainstream segment.
Growth in Transactions and Zero Correlation with Bitcoin
The most notable finding is that the number of transactions via crypto cards has increased by 2.7 times. At the same time, the correlation with Bitcoin's (BTC) price turned out to be zero. This suggests that users are not employing these cards as a speculative tool, but as a daily payment method. People are spending cryptocurrency regardless of market conditions—whether in a bull or bear trend.
Evolution of User Behavior
The second key finding concerns the nature of deposits. The median deposit has stabilized in the range of $90–135 after a winter peak of around $165 and has returned to approximately $100. Users no longer keep large sums on their cards; instead, they top them up frequently and just enough to cover current expenses. This behavior is typical of traditional payment instruments, where the card serves as a "spending wallet" rather than a savings account.
Additionally, the ratio of the average deposit to the median has decreased from 6 to 4. This means the influence of individual large players is weakening, and the user base is becoming broader and more homogeneous. The product is moving from the early adopter stage into the mainstream segment.
Why This Matters for the Market
The main takeaway: crypto cards have become a payment utility. They are no longer a store of value or a speculative asset, but an infrastructure for daily and instant spending. The zero correlation with Bitcoin's price is a key signal: people use these cards for the convenience of payments, not to profit from price increases. This is how conventional payment products behave, not investment instruments.
However, user caution also points to a weak spot in the industry—licensing issues and company reliability remain barriers to full trust. The decline in the role of large holders and the shift to regular small deposits indicate market maturation, but problems with account freezes and regulatory risks are holding back its potential.
My view: A 2.7-fold growth with zero correlation to BTC is not just a statistic; it is a marker that crypto cards have found their product-market fit. If the industry resolves issues of trust and licensing, we will see explosive growth that will overshadow current figures. For now, the market is moving in the right direction, but with an eye on regulatory risks.