The Sweep · Week 41 · 5 Oct – 12 Oct
Sent 12 October 2026
$209.01M · total stablecoin volume, week of Oct 5 – 11
Total volume was $209.01M, down 3.7%, with Luno and VALR in the index for the first full week. They add $5.15M between them, because the institutional half of a South African exchange book is set aside rather than published. Deposits set a record at 205,664 while active wallets fell 5.9%.
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13.1% · of the on-chain tranche subscribed
The on-chain tranche of the Dangote Refinery IPO closes Tuesday 13 October at 17:00 WAT. Subscriptions stand at ₦26.21M from 285 wallets, 13.1% of the 380,952 shares offered. Buying has slowed to a tenth of launch week, and 87% of the tranche is still unsold going into the last day.
Read the note →$21.33M · cNGN settled through Textile, lifetime
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.
Read the note →$405.0M · business stablecoin inflows, lifetime
Flutterwave has taken $405.0M in stablecoin inflows across the venues AfriFlux tracks. The last $100M arrived in 21 days, and 95.6% of it is USDC on Ethereum.
Read the note →8 · entries in the methodology log, 5 – 11 Oct
Luno and VALR went public on 5 October, Divest on 9 October: 23 live venues become 25, and one country becomes two. Seven further method changes landed in the same week, including a chain we had measured but never published. September moves from $998.38M to $1.03bn and keeps its direction.
Read the note →— The AfriFlux team
Total attributed stablecoin volume across the 25 venues published as live, for the ISO week of 5–11 October 2026: each venue's observed flow, plus business books at venues that publish one separately, plus confirmed settlement into a venue's own sinks at venues whose books separate cleanly. At the two venues tagged customer_capped (Luno, VALR) the published figure is the per-client boxes under $1M lifetime only; boxes above that line are large enough to be a desk or market maker rather than a retail customer, so they are excluded here and disclosed separately — $249,356,351 in this week alone. Deposit-side only. Luno and VALR went public on 5 October and Divest on 9 October; their history is included, which restates prior periods. Venues in mapping or terminal review are excluded.
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