Layer-1Quarterly Reports

Algorand Q1 2025 Brief

Youssef HaidarJun 30, 2025 ⋅ 14 min read

Key Insights

  • Algorand activated its staking rewards in January, replacing the governance payout structure and giving validators a direct income stream to secure the network.
  • Stablecoin market cap on Algorand rose 137% QoQ to $135 million, with USDC alone up 150% to $133 million.
  • The DeFi committee’s decision to wind down the Targeted DeFi Rewards (TDR) reallocated 5M ALGO away from farming pools, and was followed by a $60 million contraction in TVL.
  • The xGov council framework cleared its final hurdles. Governance Period 14 ended in March, and the community passed several proposals, paving the way for an elected council to help xGovs take charge of grant oversight.
  • Fee revenue proved stickier than price as protocol earnings slipped only 22% QoQ to $112k, even while ALGO’s market price declined 46%.

Primer

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Youssef Haidar

21 Reports0xYoussef_

Youssef is a Research Analyst on the Protocol Research team. Prior to joining Messari, Youssef was a Product Analyst at Fidelity Digital Assets. Youssef graduated from Northeastern University, where he led the Northeastern Blockchain club as President.

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Outline
  • Key Insights
  • Primer
  • Key Metrics
  • Performance Analysis
  • Qualitative Analysis
  • Closing Summary
Author
Youssef Haidar
Youssef is a Research Analyst on the Protocol Research team. Prior to joining Messari, Youssef was a Product Analyst at Fidelity Digital Assets. Youssef graduated from Northeastern University, where he led the Northeastern Blockchain club as President.
21 Reports0xYoussef_
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