DeFiWarhol

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Very interesting btw:
Perps -10% QoQ to $12.7T while spot collapsed -39.1%
Some insights from the @coingecko study ↓
• Top 10 Perp CEXes: $12.7T in Q2 2026, down -10.0% QoQ from $14.1T in Q1 2026
• Monthly Top-10 perp volumes (Jan→Jun): $4.9T, $4.7T, $4.4T, $4.3T, $4.0T, $4.4T – every month > $4.0T; May hit the H1 low at $4.0T
• Spot CEX volume fell -39.1% QoQ over the same period
Here's the why:
Perps are churn- and leverage-driven (plus emerging RWA-perp demand), so they retain activity when spot capital inflows dry up.
Spot reflects conviction and exits faster.
The May trough (BTC < $60k) f
BTC-0.98%
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My airdrop wins in July ↓
︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎
︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎ ︎︎ ︎︎︎︎
None. There are NO AIRDROPS.
WE'RE ALL COOKED.
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Last week’s spend volume was just a warm-up.
Tracked crypto card spend reached $168.7M for the previous week, nearly tripling the volume of the week before.
Here are the top 10 crypto cards by weekly spend (Jul 20-27):
1. @RedotPay | $86.21M
2. @KASTxyz | $30.89M
3. @ether_fi | $19.96M
4. @Karta_Personal | $13.61M
5. @useTria | $3.89M
6. @Plasma One | $3.69M
7. @KoloHub | $3.38M
8. @gnosispay | $1.84M
9. @MetaMask | $737K
10. @avici | $721K
Last week I said the distribution was becoming more even.
RedotPay apparently took that personally, as it generated more than half of this week’s total spe
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📂 Crypto Neobank

┣ 📂 Idea
┃ ┣ 📂 User Pain Points
┃ ┣ 📂 Target Market
┃ ┣ 📂 Geographic Focus
┃ ┣ 📂 Competitor Analysis
┃ ┗ 📂 Product Positioning

┣ 📂 Validation
┃ ┣ 📂 Customer Interviews
┃ ┣ 📂 Landing Page Test
┃ ┣ 📂 Waitlist
┃ ┣ 📂 Card Preorders
┃ ┗ 📂 Demand Testing

┣ 📂 Compliance
┃ ┣ 📂 Legal Structure
┃ ┣ 📂 Licensing Strategy
┃ ┣ 📂 KYC and AML
┃ ┣ 📂 Sanctions Screening
┃ ┣ 📂 Transaction Monitoring
┃ ┗ 📂 Regulatory Reporting

┣ 📂 Banking
┃ ┣ 📂 Banking Partners
┃ ┣ 📂 Account Infrastructure
┃ ┣ 📂 IBAN and Routing
┃ ┣ 📂 Fiat Settlement
┃ ┣ 📂 Deposit Protection
┃ ┗
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This is crazy.
Mastercard's crypto card volume has fallen by 50% so far in 2026.
It's fair to say Visa has officially won the neobank battle.
MA-0.72%
V-0.02%
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Robinhood trenches lately
HOOD-0.03%
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