Stripe’s secondary-market marks have climbed steadily into the $180–196 billion range as of early October 2026, driven by $1.9 trillion in 2025 payment volume (up 34 percent), accelerating adoption of agentic-commerce infrastructure, and a series of AI- and crypto-focused acquisitions including OpenRouter. Traders track Forge, Hiive, and Clarity prints closely because the last official tender at $159 billion in February remains the sole priced benchmark, while implied valuations now embed premium multiples on software and stablecoin revenue streams. With October 31 resolution imminent and no scheduled tender or IPO filing, near-term movement hinges on any fresh secondary prints or macro risk-on sentiment that could lift or cap those marks before month-end.