---
title: "cNGN Trading Hits $11.5M Weekly Spot Volume Record"
description: "AfriFlux says native stablecoin spot volume hit $11.5M in 2 to 8 November, led by cNGN USDT trading on BNB Chain."
canonical_url: "https://liners.com/news/cngn-native-stablecoin-spot-volume-record-afriflux"
markdown_url: "https://liners.com/news/cngn-native-stablecoin-spot-volume-record-afriflux.md"
type: "article"
language: "en"
published_at: "2026-11-10T19:00:20.236Z"
updated_at: "2026-11-10T19:00:23.850Z"
---

# cNGN Trading Hits $11.5M Weekly Spot Volume Record

AfriFlux says native stablecoin spot volume hit $11.5M in 2 to 8 November, led by cNGN USDT trading on BNB Chain.

## Breadcrumbs

- [News](/news)
- [cNGN Trading Hits $11.5M Weekly Spot Volume Record](/news/cngn-native-stablecoin-spot-volume-record-afriflux)

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## Content

## In Short
AfriFlux reported that native stablecoin spot trading reached a new weekly high in the week of 2 to 8 November. Most of the activity came from cNGN/USDT on BNB Chain, and one desk provided almost all the quotes.

## What Happened: AfriFlux Data Shows cNGN Led Weekly Spot Trading
AfriFlux said $184,227,345 moved through the venues it tracks in the week of 2 to 8 November, down 1.5% from $186,979,987.

The report said native stablecoin spot volume hit an all time high of $11,502,470, up 292% week on week. AfriFlux described “native stablecoins” as local stablecoins such as [cNGN](/cngn) and ZARP.

AfriFlux said 97.5% of the week’s native stablecoin spot volume was matched by one desk, Textile FX, at $11,218,204.

Within that, AfriFlux reported that cNGN/USDT on BNB Chain did $10,650,136 across 882 fills, and accounted for 92.6% of the week’s native stablecoin spot volume. AfriFlux said the same market did $2,554,809 across 390 fills a week earlier, and the average fill rose from $6,551 to $12,075.

AfriFlux also reported that cNGN minted $3,603,918 and burned $3,250,990. Minting means issuing new tokens. Burning means removing tokens from circulation. The report said cNGN supply still rose 10.5% to $3,674,739.

## Why It Matters
The report shows that native stablecoin spot trading can be highly concentrated. In AfriFlux’s data, one market, cNGN/USDT on BNB Chain, and one desk, Textile FX, made up most of the week’s spot volume.

AfriFlux also flagged a split between value and activity in transfers. It said transfer volume rose 261% to $28,989,518 while transfer count fell 11.1% to 27,883, which it described as “desk-sized” money coming back. AfriFlux said spot was 39.7% of all native stablecoin movement, which it noted is a share of that number.

## Sources and products

- [AfriFlux](https://www.afriflux.xyz/feed/weekly-recap-2026-w45)
- [cNGN](/cngn)

## Related pages

- [Market Trends](/news)

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