Monica set its own deposit record, and held the top spot by $23,398

37,433

Deposits

previous high 35,698

$23,398

Ahead of Quidax

$4.58M against $4.55M

$122

Monica average deposit

Quidax $313

8,213

Active wallets

4.6 deposits each

Monica recorded 37,433 deposits in the week of 21 to 27 September — its most in any week, past the 35,698 of 24 August.

It also finished the week at the top of the table, barely:

Monica finished $23,398 ahead — the third-closest week between the two since both cleared $1M, behind 12 January ($6,396) and 20 July ($10,358).

Two different shapes at the same size

The two largest venues in our coverage now do roughly the same weekly volume in completely different ways.

Monica takes two and a half times as many deposits as Quidax, at a third of the size — $122 against $313. Its 8,213 active wallets each deposited about 4.6 times in the week.

Quidax is an exchange and is tagged under_review, so its figure still includes whatever business flow shares the rail; part of that larger average is not retail behaviour at all.

This is the same split we describe in this week's finding: the part of the market that is growing fastest is growing on frequency, not ticket size.