Open Rate

The market reached $1.30B in monthly volume in August, just below the $1.33B all-time high shown in the latest OpenRate data. A few things stand out: • @RedotPay accounts for roughly 41% of the market • @KASTxyz has grown roughly 15× year-over-year • The overall market is up 2.1× year-over-year • Volume has been climbing steadily since 2023 • The market is no longer being driven by a single card program The names worth watching now: @RedotPay @KASTxyz @ether_fi Karta @Cypher_HQ_ @gnosispay Holyheld What I find more interesting than the $1.3B number is the shape of the market. The category is starting to look less like a collection of experimental crypto cards and more like an emerging spending layer for stablecoins. RedotPay has the scale. KAST is growing aggressively. EtherFi is pushing deeper into the financial-account model. Gnosis Pay and Holyheld are taking different approaches to self-custodial spending. And smaller programs are steadily adding to the volume underneath them. The market is still early, but the direction is becoming harder to ignore. Crypto cards aren't just trying to make crypto spendable anymore. They're competing to become the place where crypto gets spent. Which card company do you think has the best chance of becoming the market leader? Source: OpenRate.live — Stablecoin & Crypto Card Intelligence

USDT has reached roughly $183B in supply, while USDC sits at $73.9B. Together, they account for more than 80% of the stablecoin market shown here. But the interesting story isn't simply who has the most supply. It's what that supply is becoming. A few numbers stand out: USDT: $183B USDC: $73.9B DAI: $4.8B USDe: $4.1B PYUSD: $2.8B Total 24h volume: ~$66.1B ~84% of stablecoin value is backed by fiat reserves The market is still dominated by a small number of dollar products. But stablecoins are increasingly moving beyond the role of a crypto trading asset. They're becoming the balance sitting behind: crypto cards global payments P2P transfers exchanges fintech accounts merchant payments cross-border settlement And that's where this market gets interesting. Issuing the dollar is one business. Owning the distribution of that dollar is another. A stablecoin can have billions in supply and still be only one layer of the financial stack. The bigger opportunity may belong to whoever controls the interface between that liquidity and the user. The wallet. The card. The payment account. The exchange. The merchant. The rails moving money between them. That's why the stablecoin race may eventually look very different from the market-cap rankings. The question won't just be who issues the most digital dollars. It will be who makes those dollars move. Who is building the dominant distribution layer for stablecoins?

Wirex One is climbing the crypto-card leaderboard. The latest OpenRate data puts Wirex One at #5 by 24h on-chain volume, with $1.1M in activity. What stands out is the growth behind that number: → $25.0M monthly volume → 3.3% share of tracked 24h volume → +1,223.3% MoM growth That makes Wirex One the fastest-growing program on the leaderboard by a wide margin. For context, the next biggest monthly movers are: Karta +49.5% Kolo +47.7% KAST +27.2% Gnosis +26.2% The absolute volume still has a long way to go before Wirex One catches the leaders. But the trajectory is hard to ignore. $1.1M in 24h volume. +1,223.3% MoM. #5 overall. Now the question is whether Wirex One can turn that spike in growth into sustained volume. Source: openrate.live

More than 72% of the power users borrow against crypto

Biggest crypto card swipe of the day on @ether_fi Spent : $22,929 usd Cashback $668 usd Fees : $229 usd Real transaction or farming?