The Sweep · Week 39 · 21 Sep – 28 Sep
Sent 28 September 2026
$20.59M · attributed stablecoin volume, week of Sep 21 – 27
Attributed stablecoin volume was $20.59M, down 0.5%. Deposits hit 168,908 — an all-time high — while active wallets fell, so the average deposit dropped to $122. September is 7.0% ahead of August with three days left. Jeroid enters the index this week.
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168,908 · deposits, week of Sep 21 – 27
168,908 deposits across the 20 live venues in the index, past the 165,281 set in the week of 17 August. It happened in a week when volume was flat and active wallets fell, so the record is in transaction count alone.
Read the note →37,433 · Monica deposits, week of Sep 21 – 27
Monica recorded 37,433 deposits, its most in any week, and finished $23,398 ahead of Quidax — the third-closest week between the two venues since both crossed $1M. Its average deposit is $122, against Quidax's $313.
Read the note →$4.50M · Textile FX African notional, week of Sep 21 – 27
Textile FX cleared $4.50M in African notional, up 139% and its largest week by a wide margin. It settles the naira side of its trades in cNGN on BNB Chain, which is where cNGN's transfer volume rose 163% the same week — on 58 daily addresses.
Read the note →$103.2M · stablecoin payouts to businesses
Flutterwave's onchain settlement rail has crossed $100M in stablecoin payouts to businesses — $103.2M across 465 recipient addresses, paid in USDC, USDT and RLUSD, almost all on Ethereum. Payouts went near-vertical this year, up 532% quarter-on-quarter.
Read the note →$11.07bn · deposits measured since Sep 2021
Obiex has taken $11.07bn in stablecoin deposits since September 2021 across eight chains. Almost all of the settlement we can observe leaves through deposit addresses it holds at a single exchange.
3.14 · deposits per active wallet
The market set a deposit record while active wallets fell and the average deposit dropped to $122. Deposits per wallet are at their highest this quarter. The same people are transacting more often in smaller amounts, which is what a payment habit looks like and not what a trading market looks like.
Read the note →20 · live venues in the index
Jeroid is live and enters the weekly index from this issue, restating the series upward by about $725,000 a week. Separately, the AfriFlux X account was accessed without authorisation on 22 September and recovered the following morning; anything posted from it during that window should be disregarded.
Read the note →— The AfriFlux team
Attributed stablecoin deposit volume across the 20 live venues in the AfriFlux index for the ISO week of 21–27 September 2026. Deposit-side only — excludes withdrawals, transfers between venue-controlled addresses, and all off-chain activity. Venues whose business and personal flow share one rail (Onboard, Grey Finance, Accrue, Raenest) report total observed flow, not a size band. Venues that are mapped but not yet published, and business-only venues such as Flutterwave, are excluded from the index entirely. Jeroid enters the index this week, which restates the series: the week of 14 September now reads $20,683,641 against the $19,700,006 published on 21 September, of which $724,799 is Jeroid and $258,836 is ordinary attribution drift. Native stablecoin figures are transfer volume only and exclude mints and burns; infrastructure volume is measured separately and never added to the index.
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