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<a href="https://bitcoinworld.co.in/algorand-sees-monthly-active-users-rise-nearly-34-from-august/" title="Algorand Sees Monthly Active Users Rise Nearly 34% From August" rel="noopener noreferrer nofollow"></a>
Singapore, Singapore, October 22nd, 2024, Chainwire
The <a href="https://algorand.co/" rel="noopener noreferrer nofollow" target="_blank">Algorand</a> Foundation recently published its monthly<a href="https://algorand.co/blog/september-24-algo-insights-report-0" rel="noopener noreferrer nofollow" target="_blank"> Algo Insights Report,</a> reporting that in September the platform experienced a substantial growth in user activity (as measured by Daily Active Users, or DAU). The launch of Algorand Coinbase Learning Rewards in mid-September proved to be a major catalyst for this growth, driving DAUs to a peak of approximately 180,000 users and pushing Monthly Active Users (MAUs) up nearly 34% from August.&nbsp;
Monthly Active Users (MAU)
<img decoding="async" src="https://bitcoinworld.co.in/wp-content/uploads/September_Graph2_bigger_1729530096C2yWqnZdFt.jpg">
Daily Active Users (DAU)
<img decoding="async" src="https://bitcoinworld.co.in/wp-content/uploads/DailyActiveUSers_bigger_1729530105FQCm7DzRLd.jpg">
Background: In September, Algorand experienced a surge in Monthly Active Users, up nearly 34%, hitting a yearly high of 1,342,596. Daily Active Users also peaked at approximately 180,000 throughout the month. This represented a significant increase from the pre-September levels of around 50,000 DAUs and 1,300,000 MAUs. Two factors have impacted the increase in daily and monthly users.&nbsp;
<ul>
 <li>Launch of Coinbase Quests: The launch of Coinbase Quests with Algorand this month drove the spike in DAU. These quests provided Coinbase users with an opportunity to engage with Algorand’s platform and ecosystem.</li>
 <li>Increased exposure to Algorand’s dApps: As part of the Coinbase Quests, users could explore and interact with various dApps built on Algorand. This exposure likely contributed to the sustained increase in DAUs and MAUs, as different users discovered the potential of Algorand’s ecosystem.</li>
</ul>
The bigger picture: The sustained growth in MAU throughout the year, coupled with the significant spike in DAU during September, suggests that Algorand is providing real value to users.&nbsp;
<h5>Other Updates from Algorand Foundation, ALGO, and the Algorand Ecosystem</h5>
<h2 id="strong-algorand-blockchain-september-2024-metrics-strong">Algorand Blockchain September 2024 Metrics</h2>
<img decoding="async" src="https://bitcoinworld.co.in/wp-content/uploads/Table_Investorsreport_Bigger_1729530115g5nhfEFDxQ.jpg">
MAUs refer to any wallet which sent at least 1 txn in the month.&nbsp;Data Sources: Nodely DW, Defillam
The Algorand blockchain also saw an increase in Total Value Locked (TVL in USD) over the month. The total stablecoin market capitalization also increased again (in August, <a href="https://algorand.co/blog/august-24-algo-insights-report" rel="noopener noreferrer nofollow" target="_blank">Algorand saw an impressive 28.5% increase in stablecoin value</a> compared to July).&nbsp;
In a <a href="https://algorand.co/blog/algorand-shines-as-blockchain-with-the-best-developer-roi-for-enterprise-use-cases" rel="noopener noreferrer nofollow" target="_blank">recent case study, </a>Algorand also reported that enterprise blockchain developers can build products 600% faster on Algorand vs. Ethereum/EVM.
Alchemy Pay now <a href="https://x.com/AlgoFoundation/status/1831271074291654672" rel="noopener noreferrer nofollow" target="_blank">supports</a> ALGO, USDC, and USDT on and off-ramps.
Cardano’s developer organization, IOHK, and Hedera joined Algorand and others as the final <a href="https://x.com/DeRecAlliance/status/1831683573163680162" rel="noopener noreferrer nofollow" target="_blank">Founding Members</a> of the Decentralized Recovery Alliance.&nbsp;
Algorand Foundation also published new case studies – one regarding blockchain and ESG, featuring <a href="https://x.com/AlgoFoundation/status/1836444544738492547" rel="noopener noreferrer nofollow" target="_blank">Finboot</a>; and another on impact and payments, featuring <a href="https://x.com/AlgoFoundation/status/1839546877651661203" rel="noopener noreferrer nofollow" target="_blank">HesabPay</a>.&nbsp;&nbsp;
The Algorand Technical Council (ATC) <a href="https://algorand.co/ecosystem-working-groups?utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank">shared updates</a> with a key focus on the progress of Staking Rewards. FNet, the consensus incentives temporary development network, is also live.&nbsp;&nbsp;
The Foundation launched <a href="https://x.com/AlgoFoundation/status/1836426413651435985" rel="noopener noreferrer nofollow" target="_blank">regional hackathons</a> in France, Nigeria, and Vietnam following the success of the Global Hackathon. Registrations can be made here for<a href="https://algorand.co/hackathon-vietnam?utm_source=newsletter&amp;utm_medium=newsletter&amp;utm_campaign=hackathon&amp;utm_content=register&amp;utm_term=global&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank"> Vietnam</a>, <a href="https://algorand.co/hackathon-france?utm_source=newsletter&amp;utm_medium=newsletter&amp;utm_campaign=hackathon&amp;utm_content=register&amp;utm_term=global&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank">France</a>, and <a href="https://algorand.co/hackathon-nigeria?utm_source=newsletter&amp;utm_medium=newsletter&amp;utm_campaign=hackathon&amp;utm_content=register&amp;utm_term=global&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank">Nigeria.</a>
<a href="https://www.linkedin.com/posts/algorandfoundation_the-algorand-incubator-has-officially-wrapped-activity-7247597475044241408-xkqO?utm_source=share&amp;utm_medium=member_desktop" rel="noopener noreferrer nofollow" target="_blank">The Algorand Incubator</a> concluded after an 8-week journey, during which 14 start-ups grew with the Foundation’s mentorship.
Updates from the Algorand ecosystem:
<ul>
 <li>NFDomains launched <a href="https://nfdomains.medium.com/nfd-v3-building-for-tomorrow-e825bc4db3cc" rel="noopener noreferrer nofollow" target="_blank">V3.0.</a></li>
 <li>GoraBots <a href="https://www.gora.fi/nft-stake?utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank">launched</a> NFT staking.</li>
 <li>Travala’s <a href="https://cointelegraph.com/news/travala-skyscanner-crypto-travel-integration?utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank">recent integration</a> with Skyscanner allows over 100 million monthly users to book hotels with ALGO.</li>
 <li>EXA Markets <a href="https://coinlist.co/exa-rewards-campaign?utm_source=twitter&amp;utm_medium=web&amp;utm_campaign=EXA%20Rewards%20Campaign&amp;_hsenc=p2ANqtz-8S-gvF7lgi1zigzy1wqRR6rauMyL109ZbvjCToqKQUadJrkGE7uPQZVmhFfmEJy6FYVx4U" rel="noopener noreferrer nofollow" target="_blank">partnered</a> with CoinList to bring a new EXA Rewards Campaign.</li>
 <li><a href="https://x.com/pact_fi/status/1833187992770384268" rel="noopener noreferrer nofollow" target="_blank">Pact</a> and <a href="https://x.com/PMDBT/status/1835819406225740090" rel="noopener noreferrer nofollow" target="_blank">Lofti</a> joined the Circle Alliance Program.</li>
 <li>Folks Finance’s xChain <a href="https://x.com/FolksFinance/status/1836792489593733297" rel="noopener noreferrer nofollow" target="_blank">Mainnet move</a> is live.&nbsp;</li>
 <li>Pera launched Discover <a href="https://x.com/PeraAlgoWallet/status/1838257090252415222" rel="noopener noreferrer nofollow" target="_blank">V2.0.</a>&nbsp;</li>
 <li><a href="https://x.com/lofty_ai/status/1833560932460728667" rel="noopener noreferrer nofollow" target="_blank">Lofty</a> and <a href="https://x.com/Compxlabs/status/1833951615537357059" rel="noopener noreferrer nofollow" target="_blank">CompX</a> launched several updates to improve user interface and functionality.</li>
 <li>ANote <a href="https://x.com/anotemusic/status/1837171312835338252" rel="noopener noreferrer nofollow" target="_blank">released</a> multiple royalty payouts throughout the month.</li>
 <li>Allo <a href="https://x.com/alloinfo/status/1836172135926047045" rel="noopener noreferrer nofollow" target="_blank">introduced</a> transaction charts.</li>
</ul>
About Algorand (ALGO)
<a href="https://algorand.co/" rel="noopener noreferrer nofollow" target="_blank">Algorand</a> (ALGO, ALGO-USD) is a cryptocurrency launched in 2019 as part of the Algorand blockchain. The Algorand blockchain is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput, and low fees. Designed by Turing Award-winning cryptographer Silvio Micali, it is built for real-world scale. Algorand (ALGO) is currently trading on more than 400 active markets under the tickers ALGO, ALGO-USD, ALGO/USD, ALGO-EUR, and ALGO/EUR, among other currency pairs. It has a limited, deflationary supply of 10,000,000,000 ALGO which will be in full circulation by 2030. More information can be found at algorand.co.
Disclaimer:
The content provided in this article is for informational purposes only. The information is provided by the Algorand Foundation and while we strive to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. The content of this blog is not intended to be financial advice. You should not take any action before conducting your own research or consulting with a qualified professional. Any reliance you place on such information is therefore strictly at your own risk. In no event will Algorand Foundation be liable for any loss or damage including without limitation, indirect, or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog. Through this article, you may be able to link to other websites which are not under the control of the Algorand Foundation. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not imply a recommendation nor endorse the views expressed therein.
<h5>Contact</h5>
PR Advisor Rachel Pipan press@algorand.foundation

Algorand Sees Monthly Active Users Rise Nearly 34% From August

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