USDC Dominates Crypto Card Spending as Stablecoin Volumes Reach $759 Million

Crypto card spending has seen significant growth in July, reaching $759 million, up from $300 million in the same month last year. This represents a 2.5-fold increase in just one year.

The surge can be attributed to the growing popularity of stablecoins, particularly USDC, which now accounts for 58% of card volume. In fact, USDC's share has increased from around 48% in July last year to its current dominant position.

Other notable players in the market include Optimism, Solana, and Base, each accounting for around 19% of the card spend. The Gnosis chain, which was once a leading platform for stablecoin payments, has seen its share dwindle to just 2%.