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Market commentator The Kobeissi Letter spotlighted on Wednesday a sharp spike in cryptocurrency card payments, linking it to increased stablecoin adoption.

Cumulative Card Volume Nearing $8 Billion

Kobeissi Letter drew attention to cumulative payment volumes reaching $7.8 billion as of Wednesday, citing data from on-chain payment analytics firm Paymentscan. The monthly volumes have more than doubled from $271 million in May 2025 to $656 million in May 2026.

An overwhelming 72% of the total payment volume has been settled in Tether, while USDC’s share stood at roughly 18%.

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