Cryptocards have ceased to be a toy: a 2.7-fold increase in transactions and a paradigm shift in usage
The cryptocurrency card market is passing a bifurcation point. My analysis of data from 16 leading cards (including RedotPay, Cypher, EtherFi Cash, and GnosisPay) over 76 weeks — from January 2025 to June 2026 — has revealed three fundamental trends that are reshaping perceptions of this tool.
Activity is growing regardless of Bitcoin's price
The first and most telling finding: 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. Users spend cryptocurrency daily, without regard to market conditions — whether it's a bull or bear trend. This fundamentally distinguishes the current phase from the speculative period of 2021-2022.
Top-ups are becoming regular and small
The median deposit has stabilized in the range of $90–$135. After a winter peak of around $165, the figure has returned to approximately $100. Users no longer store large sums on their cards but top them up frequently and just enough to cover current expenses. Behind this lies not only a change in habits but also rational caution: holders fear account freezes or loss of license by the issuer, so they deposit small amounts for specific payments.
Customer behavior is normalizing
The third key trend is a decline in the ratio of average deposit to median deposit from approximately 6 to 4. This is direct evidence that the influence of individual large players is weakening, and the user base is becoming broader and more homogeneous. The product is transitioning from the stage of early enthusiasts to the mass segment.
Why this matters for the market
The main takeaway from the entire picture: crypto cards have finally become a payment utility. They are no longer a store of value or a speculative asset, but an infrastructure for daily and instant spending. Zero correlation with Bitcoin's price is a key signal: people use cards not to profit from price increases, but for the convenience of transactions. This is exactly how familiar payment products behave, not investment instruments.
The reduced role of large holders and the shift to regular small top-ups indicate a maturing market. At the same time, user caution also points to a weak spot in the industry — issues of licensing and company reliability remain a barrier to full trust.
My expert assessment: We are witnessing a classic transition from a niche tool for crypto enthusiasts to a mass payment medium. However, for full integration into everyday life, the industry must address the problem of regulatory uncertainty and increase user trust in issuers. Without this, the growth ceiling will be limited.