Crypto-card transaction volume is losing momentum after reaching a new high in September. Paymentscan recorded approximately $1.231 billion in September, while October’s cumulative volume stood at about $1.195 billion on October 28. ChainCatcher reported that a month-over-month increase for the full month now appears unlikely.
RedotPay, EtherFi and KAST were among the leading programs whose October volumes declined compared with September, according to ChainCatcher. Paymentscan’s program table showed October volumes of $369 million for RedotPay, $122.5 million for EtherFi and $106.1 million for KAST.
Across the roughly 30 card programs tracked, cumulative transaction volume has reached $13.69 billion since March 2023. Paymentscan’s spend chart includes both onchain and offchain data. It notes that RedotPay spending figures are self-reported and that some card flows may be missing, so the totals should be read as an estimate rather than a complete measure of the market. October’s figure also remains preliminary until the month ends.