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Methodology

Methodology updates

Everything we add to coverage, every change to how we measure, and every published figure that has moved — with what it was and what it is now. If you cited a number from this site, this page tells you whether it still holds.

Entries
28
Figures restated
12
Since
Jun 2026
Everything28Restated figures6Coverage added17Method4Corrections2Removed1
  1. Added

    Blockradar added as infrastructure — wallet-as-a-service, $1.40B observable flow across ten chains to 28 September

    Infrastructure flow overlaps venues we already count, so it is never added to market or category totals.

    Venues · InfrastructureMarketCoverage
  2. Added

    Obiex added — Nigerian exchange, $1.74bn retail and $9.34bn business across eight chains, the largest venue in our coverage

    Tracked retail volume more than doubles, so every venue's market share is restated against the larger total.

    ExchangesMarket totalCoverage
  3. Added

    Jeroid added — Nigerian crypto and gift-card offramp, $28.13M across four chains

    OfframpsCoverage
  4. Added

    Flutterwave added — $323.01M of business deposits, and a new Business Payments category

    Business-only, so it is not part of retail totals or market share.

    Business PaymentsCoverage
  5. Added

    Monica added — Nigerian crypto-to-naira offramp, $163.79M across five chains

    OfframpsCoverage
  6. Added

    Raenest added — cross-border neobank, $3.66M across six chains

    Coverage extends to Morocco, Kenya, Ghana and South Africa.

    NeobanksCoverage
  7. Added

    Daya Pro added — Nigerian exchange, $11.70M across nine chains, and our first venue on Aptos

    ExchangesCoverage
  8. Added

    BUSD and PYUSD added to Timon's coverage

    NeobanksCoverage
  9. Added

    Accrue added — cross-border money app, $13.35M across six chains

    NeobanksCoverage
  10. Added

    Grey Finance added — cross-border neobank, $50.3M across four chains

    Coverage extends to Morocco, Algeria and Egypt.

    NeobanksCoverage
  11. Added

    cUSD and Asset Chain added to Azza's coverage, backfilled across its full history

    OfframpsCoverage
  12. Added

    Payrit added — Nigerian neobank for global payments, ~$220K

    NeobanksCoverage
  13. Added

    SFx added — stablecoin-powered neobank, ~$894K across six chains

    NeobanksCoverage
  14. Added

    Onboard Global added — stablecoin-native neobank, $10.7M across eight chains

    NeobanksCoverage
  15. Added

    Evolution added — USD-account neobank, ~$1.05M across seven chains

    NeobanksCoverage
  16. Added

    Timon added — travel-payments neobank, $3.7M across five chains and 16 African markets

    NeobanksCoverage
  17. Added

    Native African stablecoins added — supply, transfers, DEX volume, redemption and holder cohorts per token

    Native stablecoins
Think a figure is wrong?

Tell us what it should be

We will re-derive it and show our working for that venue. If we got it wrong, the correction lands on this page with its before and after. Reach us at motolayahaya@gmail.com.

Elsewhere

Method and coverage

Methodology explains what each metric means and where the limits are. Coverage lists the venues, markets and chains we measure today. Changes to the product rather than the numbers are in product updates.

AfriFlux data · independently reproducible from public chain data
Methodology v2.0