The most deposits we have ever recorded in a week
Volume, deposits and active wallets all set all-time highs in the same week. Deposits beat their previous record by 9.4% while volume beat its by 1.3% — the growth came from participation, not from bigger transfers.
- 112,944
- Deposits
- 38,091
- Active wallets
- +1.3%
- Volume vs its record
- $100
- Average deposit
prev best 103,205 — up 9.4%
prev best 36,619 — up 4.0%
against deposits at +9.4%
down from $108
The week of 10 to 16 August produced 112,944 attributed retail deposits from 38,091 active wallets. Both are the highest we have recorded in 328 weeks of coverage, going back to March 2020.
Volume set a record in the same week, at $11.32M.
Three simultaneous records is a less useful fact than the distance between them:
| this week | previous best | margin | |
|---|---|---|---|
| Volume | $11,323,928 | $11,179,814 | +1.3% |
| Deposits | 112,944 | 103,205 | +9.4% |
| Wallets | 38,091 | 36,619 | +4.0% |
Volume scraped past its record. Deposits cleared theirs by seven times as much. The average deposit fell to $100, from $108 the week before.
More people, transacting more often, in smaller amounts.
Why we lead with the deposit count
Volume can move because one participant moved size. We have seen it repeatedly — a single treasury transfer added a fifth of the native stablecoin layer's volume in a week earlier this month, and gave it all back seven days later.
Deposit counts are much harder to move that way. 112,944 deposits is 112,944 separate decisions, and no single participant can manufacture that. When volume and deposit counts diverge, the count is usually the more honest signal about how many people are actually transacting.
That said, an address is not a person. Wallet counts are a floor on participation, not a user count — one person can hold several addresses, and deposit addresses issued by a venue are assigned rather than chosen. We report the number because it moves for real reasons, not because it resolves to individuals.
Where it came from
Spenda processed 76,845 of those deposits from 27,213 addresses — its own record, and more depositing addresses than any other venue we track by a wide margin. Its average deposit is $32, which is what a genuinely high-frequency retail product looks like from the outside.
For contrast, Quidax moved twice Spenda's volume from roughly a sixth of the addresses — and had a down week, falling 5.7%.
Neither is better. They are different businesses, and a table ranked by volume puts them first and second and implies otherwise.
Method
Attributed retail stablecoin deposits across the 14 venues in AfriFlux coverage for the ISO week of 10–16 August 2026, compared against the full weekly series from the week of 16 March 2020 — 328 weeks. Deposit-side only: excludes withdrawals, transfers between venue-controlled addresses, and all off-chain activity. Active wallets counts distinct depositing addresses within the week; an address is not a verified customer account, so this is a floor on participation rather than a user count. Prior weeks in the comparison reflect the restatement described in this week's recap.
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AfriFlux (2026). The most deposits we have ever recorded in a week. Published 17 August 2026. https://www.afriflux.xyz/feed/record-participation-august
Reproducing a chart? Use this line: Source: AfriFlux — on-chain intelligence for Africa's stablecoin economy. afriflux.xyz