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Dai

DAI

Rank #21
$ 0.9994
-0.12%
24H Low$0.9953
24H High$1
24H Volume
236.51M
All-Time High(ATH)
$1.22
All-Time Low(ATL)
$0.8820
Market Cap
5.29B
Fully Diluted Valuation
5.29B
Market Cap/FDV
1.0000
Circulating Supply
5.3B DAI
Total Supply
5.3B DAI
Max Supply
4.27B DAI
Market Sentiment
--
* Data from 3rd parties

Dai (DAI) Price Trends

Time period
Change amount
% Change
1H
$ 0.0006533
0.065%
24H
$ -0.001233
-0.12%
7D
$ 0.0001851
0.019%
14D
$ 0.0008444
0.084%
30D
$ 0.001931
0.19%
1Y
$ -0.0008153
-0.082%

Live Dai (DAI) Price Update

Dai price today is $0.9994 with a 24-hour trading volume of 236.51M, and as such Dai has a market cap of 5.29B, giving it a market dominance of 0.25%. The Dai price moved -0.1233% in the last 24 hours.

Dai reached its highest price on 2020-03-13 when it was trading at its all-time high of $1.22, while its lowest price was recorded on 2023-03-11 when it was trading at its all-time low of $0.8820. The current lowest price since the last cycle high was $0.8820, and the highest price since the last cycle low was $1.22. The social sentiment of Dai is currently Positive.

The current circulating supply of Dai is 5.3B DAI. In terms of market cap, Dai is currently ranked 21.

About Dai (DAI)

Established in 2015, MakeDao is a stablecoin project based on the extra-collateralized mode running on the Ethereum blockchain. Because the lending project plays a pivotal role in the entire DeFi ecosystem, MakeDao is generally considered the initiator of the DeFi era.

MakeDao uses cryptocurrency as collateral, and the stablecoin Dai is pegged with the US dollar. The governance of the Make ecosystem is jointly decided by decentralized autonomous organizations (DAO) - "distributed autonomous organizations", rather than rules made by one institution or individual. Participating in the governance decision can make project proposals and decisions through holding the governance token MKR.

DAI is a crypto stablecoin based on the Ethereum network. DAI is created when users lock extra-collateralized loans. It uses the target rate feedback mechanism (TRFM) to maintain a 1:1 stability of the value between US dollars. It will be offset when the user repays the loan.


How does MakerDAO (DAI) Work?

In the Maker system, there is a smart contract (CDP) that implements the collateralized loan logic. If users want to borrow DAI, they must first establish a collateralized debt position (CDP), and then use digital assets as collateral to generate DAI. After acquiring DAI, users shall use DAI to invest in more promising assets. Finally, buying back the DAI, users shall repay the DAI and part of the expenses to get back the collateralized assets.

This can be simply understood as an intermediary institution for collateralized lending on Ethereum. When users stake ETH on MakeDao, MakeDao will issue a corresponding amount of DAI. MakeDao adjusts supply and demand by controlling the lending rate and maintains the pegging of Dai and USD.

In particular, in order to avoid the risk of price fluctuation, users need to borrow DAI with digital currency, and lend different amounts of DAI according to different collateralized rates. When the system finds that some assets are at risk, it will liquidate the assets with high risk, and the CDP lending vouchers with a collateralized rate of less than 150% will be cleared first. Therefore, if the user does not want to be cleared by the system, he/she must deposit more ETH or repay DAI into the CDP lending vouchers to improve the collateralized rate and ensure that his/her collateralized debt position is maintained in a safe range.

When the collateral price drops to a certain extent, the collateral will be liquidated at a price slightly lower than the market price to avoid losses on the platform. After liquidation, CDP lending vouchers will be closed, and users will no longer be able to redeem the previously staked ETH by repaying the DAI. Meanwhile, the system will deduct certain penalties and handling fees from users, and the DAI obtained by auction of ETH will be burnt, and the remaining assets can be retrieved by users.


What is MakerDAO (DAI) ?

DAI is a stablecoin guaranteed by full collateralized assets. Through a series of financial incentives, its value is guaranteed to remain 1:1 stable with the US dollar.

All the Dai in circulation are backed by extra collateral, which is hosted in the auditable and publicly viewable Ethereum smart contract.

Once DAI is generated, it can be used like other cryptocurrencies: it can be freely sent to other people, used to buy goods or services, or held as a tool to hedge market volatility.

FAQs

1. What determines the price movement of Dai?

There are two schools of thought in determining the price of Dai.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Dai, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Dai from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Dai on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Dai as well.
Investors tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Dai and the cryptocurrency market as a whole.

Dai (DAI) News

Dai (DAI) Announcements

Date
Market Cap
Volume
Open
Close
2024-02-20
$108.61M$4.95B$0.9990N/A
2024-02-19
$87M$4.91B$1$0.9990
2024-02-18
$94.08M$4.91B$1.0000$1
2024-02-17
$234.34M$4.89B$0.9996$1.0000
2024-02-16
$118.22M$4.9B$0.9996$0.9996
2024-02-15
$134.25M$4.87B$0.9987$0.9996
2024-02-14
$132.13M$4.87B$1$0.9987