Textile crossed $20M in cNGN settled — the second $10M took 22 days
Textile has settled $21.33M of cNGN. The first $10M took 100 days; the second took 22 — and it arrived on eight times fewer trades at nine times the average ticket.
- 22 days
- From $10M to $20M
- 1,604
- Fills in the second $10M
- $7,017
- Average fill, second $10M
- 85.4%
- Settles on BNB Chain
100 days for the first $10M
13,089 in the first
up from $769
$18.22M of $21.33M; Celo $3.03M
A rail that doubles its lifetime volume in three weeks has usually found more customers. Textile found fewer.
The first cNGN fill settled on 7 June 2026 for $199.90. It took 100 days to reach $10M, on 15 September. It took 22 to reach $20M, on 7 October — and in those 22 days it settled $11.26M, more than the entire first leg.
This is not one big day
The busiest day of the first leg moved $697,007. The busiest day of the second moved $1.61M, and the leg cleared its $11.26M across 22 active trading days. The level moved, not a single print.
The trades changed, not the traffic
The first $10M came from 13,089 fills at an average of $769.57. The second came from 1,604 at $7,016.94 — eight times fewer trades, each one nine times larger.
The monthly averages show exactly where it turned. June through August sat between $348 and $619 a fill and barely moved. September came in at $5,813, October so far at $6,630. Nothing gradual about it: the shape of the order flow changed inside a single month, and it has stayed changed.
What that looks like is desks arriving, not individuals. We can measure the tickets; we can't see who is behind them, so treat the rest as inference.
Where it settles
BNB Chain carries $18.22M, 85.4% of the total, across 12,519 fills. Celo adds $3.03M. A USDC/cNGN pair on Base has settled $76,490 across 540 fills in four months, which is to say it exists rather than trades.
cNGN is now 55.9% of everything Textile has settled — $21.33M of $38.14M lifetime. The naira pair remains the protocol's main business, though its share has come down from 63% as the non-African book grew alongside it.
What this figure is, and is not
This is settlement notional: the size of the orders that filled, not Textile's fees and not its revenue.
It is also one protocol's order flow, not the cNGN market. Naira moves onchain in places this measurement does not see, and a rail settling $21.33M is a measure of that rail.
Live daily volume, pairs and chains: afriflux.xyz/venues/textile.
Method
Notional value of filled orders on cNGN pairs settled through Textile, read from its settlement contracts on BNB Chain, Celo and Base, from the first cNGN fill on 7 June 2026 to 7 October 2026. The two legs are split at the day cumulative volume first passed $10M, so the crossing day sits in the first leg. This is settlement notional — not fees, not revenue, and not the size of the cNGN market. Textile is infrastructure, so this volume is never added to the AfriFlux venue market index: a single trade can cross this rail and also appear as a venue's deposit.
How attribution works →Cite this
Free to cite with attribution. No embargo, no approval needed.
AfriFlux (2026). Textile crossed $20M in cNGN settled — the second $10M took 22 days. Published 8 October 2026. https://www.afriflux.xyz/feed/textile-cngn-20m
Reproducing a chart? Use this line: Source: AfriFlux — on-chain intelligence for Africa's stablecoin economy. afriflux.xyz