The public record of our measurements.
Africa’s stablecoin economy, measured wallet by wallet and published with the method attached. Every figure here is dated, permanent and traceable to an on-chain sweep — not a survey, not a self-reported number, not an estimate. Free to cite with attribution.
Every note, newest first
93 notes · 38 milestones · 18 coverage notes · 15 recaps · 20 analyses · 2 Gradient notes
- AnalysisWeek of Jul 27 – Aug 2, 2026
Nine tenths of native stablecoin activity is now one token
Native African stablecoins moved $2.87M last week. cNGN was $2.58M of it — 89.7% — and the only one that grew. Outside it, weekly percentage changes are being driven by single transfers, not by activity.
89.7%cNGN share of native stablecoin transfer volume - CoverageEffective 3 August 2026
Noblocks removed from coverage pending revalidation
We attributed Noblocks users through a relayer key that turned out to belong to shared wallet infrastructure — 63 different apps use it. Noblocks is removed while we revalidate, and the full history has been restated on the remaining 13 venues.
13venues in coverage - MilestoneWeek of Jul 27 – Aug 2, 2026
Quidax breaks its own record again
Quidax cleared $5,073,490 in retail deposits, beating the $4.9M record it set seven days earlier — and it did it in a week when the market as a whole fell 2.4%.
$5.07MQuidax retail deposits, week of Jul 27 – Aug 2 - RecapWeek of Jul 27 – Aug 2, 2026
Weekly recap: $10.69M, and a record inside a slower week
Retail stablecoin volume across the 13 venues we track came to $10.69M, down 2.4% on the week. Quidax grew into the softness — a record $5.07M and 47.4% of everything measured.
$10.69Mretail volume, week of Jul 27 – Aug 2 - The GradientQ2 2026
Eight of the 14 venues we track lost share last quarter
The market grew 18% last quarter, the median venue 11%, and the biggest venue 7%. Ranked by size the board barely moved — ranked by momentum, two thirds of the venues we track are ceding ground.
8 of 14venues lost share - MilestoneWeek of Jul 20, 2026
Quidax just set a deposit record
Quidax posted its largest deposit week on record — $4.9M, 23% above a prior peak set just 28 days earlier. The gain came from existing users spending more, not from new sign-ups.
$4.9Mrecord deposit week - The GradientQ2 2026
The Gradient: total volume hides who's actually winning
The #2 venue by lifetime volume processed just $2.9M last quarter. A same-sized rival moved $23M — eight times more. Lifetime volume measures scale; it does not measure momentum. The Gradient measures both.
8×gap between two same-sized venues - RecapWeek of Jul 20–26, 2026
Weekly recap: a new high of $10.6M
Retail stablecoin volume across the 14 venues we track hit a new weekly high of $10.6M, 16% above the prior peak. It was a concentrated week — Quidax alone drove 46.3% of it.
$10.6Mretail volume, week of Jul 20–26 - MilestoneCoverage 2025 – Q2 2026
Breet crosses $20M
Breet has crossed $20M in retail stablecoin volume across 13,644 wallets — and half of it landed in a single quarter. At 10.8% of all retail flow in our coverage, it is now one of the largest venues we track.
$20.3Mlifetime retail volume - MilestoneCoverage 2024 – Q2 2026
Bayse Markets crosses $1M
Bayse Markets has crossed $1M in retail stablecoin volume — the first prediction market in our coverage to do so. 44% of everything it has ever moved landed in the last quarter alone.
$1.03Mlifetime retail volume
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Attributed, not estimated
Every figure traces to an on-chain sweep of addresses we have verified and labelled, wallet by wallet. Nothing here is extrapolated from a survey, a funding round or a company’s own disclosure.
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Each note carries a method statement naming what was measured and what was excluded. A note without one fails the build. See the methodology for attribution, clustering and sweeps.
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