Payment volume on crypto-linked credit and debit cards has been steadily increasing since 2024, reaching about $7.8 billion in cumulative transactions this month. Monthly payment volume on crypto-linked debit and credit cards is up about 230% over last year, amid a proliferation of crypto-related payment products. Cumulative volume on crypto-linked payment cards reached $7.8 billion this month, according to The Kobeissi Letter, a market research publication. Payments giant Visa is capturing about 90% of crypto card transactions through partnerships with onchain native companies like Jupiter Global, analysts at The Kobeissi Letter said. Read more
Weakening spot demand, miner inflows to exchanges and freshly opened shorts put downside pressure on Bitcoin price. Bitcoin (BTC) miner inflows to Binance crossed 20,000 BTC for only the second time this year, placing fresh pressure on Bitcoin’s daily uptrend near the $75,000 support zone. Will BTC defend its higher-timeframe bullish structure, or is the market on the verge of a broader bearish trend shift? Crypto analyst Amr Taha said miners transferred roughly 21,000 BTC to Binance on May 18, close to the 23,150 BTC sent on Feb. 5. Large miner deposits are often tied to potential selling activity as miners move BTC to exchanges to cover operating costs. Read more
The predictions market operator reportedly explored mandatory user verification requirements, breaking from its policies of allowing traders to access its services using pseudonyms. Prediction markets platform Polymarket is reportedly considering measures to verify users in response to pressure from global authorities over sanctions violations and other areas of legal risk to the company. According to a Wednesday report by The Information, Polymarket has considered mandatory user verification requirements more in line with Know Your Customer (KYC) standards. The move comes as multiple countries have blocked or restricted access to the predictions market platform over concerns about illegal gambling. Source: Polymarket Read more