September 2025 Algo Insights Report

Welcome to the latest edition of the Algo Insights Report, recapping ecosystem metrics and momentum in September 2025.  

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September highlights

The Algorand network showed increased adoption, with monthly active users climbing to 756,000 in September, a 13.3% month-over-month increase. Growth was broad-based across the ecosystem, with the launch of Algoland contributing to higher user activity.

On-chain asset creation also accelerated, rising 30.0% to 26,800 new assets.

September set an all-time high for open-source developer activity with over 390 single-chain developers contributing, as per the Electric Capital Developer Report.

This surge is a powerful signal of long-term resilience. Developer mindshare is sticky capital, and as more builders ship code, launch dApps, and expand tooling, the network compounds strength well beyond what liquidity metrics alone can show.

Algorand tokenomics

At the end of September, ALGO’s circulating supply reached 8.78 billion, representing 87.8% of the total maximum supply. This marks a 0.59% increase from August.

Staking rewards and network fees

During the first nine months of 2025, validators received a total of 49.29 million ALGO in staking rewards. The chart below highlights the monthly distribution, providing insight into both staking rewards issuance and fee-driven activity on the network.

Thank you for reading. Be sure to check out the rest of the newsletter for more updates from 
the Foundation and across the ecosystem.

– Simon Bonanno, Head of Business Intelligence

News & updates

From the Foundation

New CTO: Nikolaos Bougalis, former Ripple engineering lead, joined the Algorand Foundation as CTO.

Algoland went LIVE September 22, with over 30,000 players opting in the first week alone! 💥 Algorand’s biggest retail marketing campaign to date is fully on-chain. It features 13 weeks of weekly challenges, where users interact with the Algorand ecosystem to complete quests to qualify for weekly prizes. They also accumulate points for a chance to win one of the final Grand Prizes.

Humanitarian Aid Payments: The Foundation hosted the Humanitarian Aid Payments Council in Berlin, bringing together key leaders from blockchain, humanitarian organizations, and finance. New members joined the council, including UNHCR, Mastercard, and Stellar. 

The Impact team unveiled the Aid Trust Portal (ATP) at the Council meeting. The ATP, built on Algorand, is a tool to track and visualize humanitarian aid payments on-chain. UN agencies are already using it through HesabPay.

Move to the US: Jennie Levin, Algorand CLOO, explains why Algorand is moving to the US in a recent Crypto News article. 

Algorand podcast: Verifiably Random returns for a third season, hosted by Marc Vanlerberghe, CSMO, and Min Wei, CBO, with weekly updates from Fred Estante, Head of DeFi. Catch EP1: About Algoland with Marc, Min, and Fred | and EP2: With Min featuring Alpha Arcade.

Regulatory clarity: New Algorand blog article by Jennie Levin, CLOO: Programmatic Protocol Staking Rewards and Regulatory Clarity. 

Governance

The xGov Platform (beta) is now live on mainnet. Voting power is derived from the number of blocks produced, where one block = one vote. Voter enrollment is open for addresses participating in consensus. Open-source builders can submit up to 200,000 Algo in retroactive grant proposals for evaluation. It’s now easier than ever for Réti managers to enroll their pools.

Check out ALGO RADIO EP 12: Decentralization on Algorand: xGov Roundtable (X space). 

Algorand in the news

• Cointelegraph published an article about Algoland.
• Cryptonews interviews Marc for Algoland insights.
• CoinDesk covers CTO Nikolaos Bougalis joining Algorand.
• Article on Allbridge and Algorand's partnership to launch a cross-chain stablecoin bridge in Decrypt.
• Marc speaks on an AMA video with Cointelegraph about Algoland. 
• Great article by Marc for CoinDesk: “The CLARITY Act Defined ‘Mature’ Blockchains. Here’s What It Missed.” 
• Marc on Brave’s podcast to discuss Algorand’s roadmap. 

Around the Algorand ecosystem

The roundup below showcases the vibrant activity fueling Algorand’s growth and adoption across multiple sectors.

Staking & DeFi news

• Algorand staking is now available on CEX Uphold.
• ALGO is now listed on LCX, a European CEX.
• Tinyman, the biggest DEX on Algorand, now has a DeFi dashboard on Nansen.
• Folks Finance announced Algorand Ecosystem Isolated Markets, a safe way to support ecosystem & community tokens.
• Haystack, a new mobile-native DeFi app for Algorand, is now available on iOS and Android. The first two tranches of Haystack’s HAY token sold out in less than 10 minutes, raising $600,000.
• Vestige’s mobile app is coming to the Google Play Store.
• GORA token from Gora Network is now tradable on Coinbase Wallet.

Stablecoins, payments & agentic commerce

• Algorand Foundation has submitted a full spec to Coinbase to implement X402 on Algorand.

• Algorand is integrating with Allbridge to launch a dedicated stablecoin bridge.
• Overview of StableAfrica Summit by Head of Investments Amar Odedra.
• BubbaPay payment solution built on Algorand is now live on mainnet.

Wallets

• Over 120,000 USDC spent on Algorand via Pera Card.
• Great chat between the Pera team and Generation Infinity about Week 1 of Algoland.

Gaming

• Alpha Arcade crossed $2 million in total volume, added ALGO as a payment method for making predictions.
• Fracctal TCG mobile app now available on the Google Play Store.

Loyalty, onboarding & web3 experiences

• Algoland launched September 22.

Dev spotlight, tools & infrastructure

• Algorand 4.3.0 officially released after approval by node runners.
• Nansen report published for Algorand H1 2025.
• Giulio Pizzini (founder of Hermes Vault) on how to have a confidential, quantum-secure account on Algorand.
• New recording P2P IRL: Lunch & Learn on Peer-to-Peer Architecture from Algo[can]nes during EthCC.

Each week, the Foundation’s Head of DeFi, Fred Estante (on X @fredestante), recaps everything happening in the ecosystem. Check out his August summaries to discover when apps are running incentives, opportunities for beta testing new apps and feature upgrades, and more: SEP 7 | SEP 14| SEP 21 | SEP 28

Dev events in September

Over 108 projects launched on Algorand in September through three hackathons: Berlin (42 Berlin), Harvard (EasyA), and Bangalore (Rise In).

Startup Challenges launched! A new program where participants can turn their ideas into startups with mentorship and resources, and compete for a total prize pool of up to USDC 125,000. 

Algorand Developers also launched a new series highlighting Algorand builders' journeys. Episode 1 features Jorrin Bruns, Developer Relations Engineer.

News from the Algorand Accelerator

CPayant, an African neobank from the Algorand Accelerator, is now live on mainnet, already processing USD 50,000 monthly volume, while W3 Wallet hosted a swap quest with a 4k ALGO pool. 

What’s happening in October

Highlights for October include the Impact team at the East African Humanitarian Summit (EAHS) in Nairobi, CSMO Marc Vanlerberghe speaking at Merge Madrid and the European Blockchain Convention in Barcelona, and CEO Staci Warden and CSMO Marc speaking at the Digital Asset Summit in London.

Stay up to date on upcoming conferences, hackathons, speaker events, and community meetups around the world. For the full calendar and to see what's happening in your region, visit our Events page.

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