250+ companies fighting for crypto card market share rn

Market's getting crowded af. Winners will be whoever nails UX + lowest fees + best rewards structure.

Most will die. Few will 10x.

Watch for:
- Real spending volume (not vanity metrics)
- Actual card activations vs waitlists
- Regulatory moats

Competition = validation. But also means harder to stand out.

If you're holding a crypto card play, make sure they're not just another copycat.