Market commentator The Kobeissi Letter drew attention to a significant spike in cryptocurrency card deposits on Wednesday, connecting the jump to growing stablecoin adoption.
Crypto Card Top-Ups Hit The Roof Kobeissi Letter spotlighted that cumulative card deposits exceeded $10 billion for the first time in June, citing data from on-chain payment analytics firm Paymentscan.
The deposits have increased 82% year-to-date and more than tripled in a year.
Additional data revealed that monthly cryptocurrency card volumes exceeded $900 million in June, representing a 27% increase from January and more than double the volume from the previous year.
Fintech giant Visa Inc.
