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Dai price today is $1.00 USD, which is Down by -0.01% over the last 24 hours. There has been an hourly Dip by -0.02%. Dai's market cap currently sits at $6,798,037,107.72 USD, holding up for a market cap rank at #12. The volume were at $299,586,413.37 USD Dai ranks no 12 in the market capitalization of Dai is at $6,798,037,107.72 and its volume for 24 hours is $299,586,413.37. Dai are under circulation, with total supply of 6.8B and the Maximum supply of 0.
What is Dai(DAI)? DAI is an ERC20 based stable token that has developed on the Ethereum(ETH) blockchain technology. It is a stable value of one U.S. dollar, which the MakerDAO has issued. The DAI is the first collateral-backed cryptocurrency, and it can maintain its stable 1:1 value with the U.S. dollar by locking other crypto assets in the contract. Stable cryptocurrency is not rare and new now. We have many stable cryptocurrencies which are in demand globally. Stable crypto includes USDT, BUSD, USDC, PAX, Gemini Coin, and upcoming facebook's Diem. DAI is a stable Ethereum token, and it is used to pay for things and easily transferable between Ethereum wallets.
DAI is a product of MakerDAO and founded in 2014 by Rune Christensen. His first project, MakerDAO and first introduced in 2015. After that, the maker protocol started making DAI design, and it was launched in 2017 December on the Marker Protocol.
Users and investors are interested in buying DAI because it offers efficiency and transparency benefits and protects from price volatility. DAI is the same as other cryptocurrencies. It is borderless, programmable, and can transfer quickly, but the bonus point is price stability. You can purchase and transfer DAI to exchange other cryptocurrencies.
DAI is a crypto asset, and cryptocurrencies can collateralize it. If you are planning to acquire DAI on the other side, they can spend ETH to purchase the dollar equivalent to DAIanf they can collateralize ETH or any other asset with the help of Maker protocol.
CDPs (Collateralized Debt Positions) is a smart contract on maker protocol, and with the help, users can leverage to lock their collateral assets and generate DAI.
DAI offers high collateralization, which means the deposit amount should be higher than DAI. For instance, to receive $100 DAI, the user has to spend $200 in Ethereum(ETH). That means to users' account for the potential decrease in the value of ETH. Additionally, If ETH down by 25%, The $100 in the DAI will be safe and collateralized in Ethereum by $150. If you want to recover stored ETH, the user has to return DAI by paying a stable fee.
DAI is stable and currently ranked number #20 with the $4.85($ 4,846,312,004) billion market cap. The current circulating supply is 4.85(4,845,139,918.52) billion DAI out of the total supply of 4.85(4,845,139,918.52). The current 24h volume of DAI is $ 968.01($ 968,014,981) million.
Maker Dai aims to create stable coins, and the idea behind this is to handle the volatility. If you are planning to buy DAI, you have to require either BTC or Ethereum for trading.
There are several ways to buy DAI. It is available on every exchange, but buying from top exchanges makes our purchase secure. There are only three 3 to buy and trade DAI includes:
We are listing down some top exchanges where you can buy DAI easily, and that includes:
By exchanging DAI against fiat currencies (such as the U.S. dollar or Japanese yen) or using them as payment for goods and services, Dai can be earned or received in various ways. DAI considers as the most popular cryptocurrency, and on the other side, USD is the most demanding fiat currency globally. Today, almost every fiat currency has been paired with the DAI, including DAI to PHP, DAI to INR, DAI to NGN, DAI to THB, DAI to CAD, DAI to PKR, DAI to IDR , DAI to EUR , DAI to AUD , DAI to BDT and many more in the queue. The given all are fiat currency and the most widespread pairs in the market.
There are many altcoins in the market, and investors need to clear out how altcoin differs from Dai and what it can offer by comparing all altcoins with Dai(DAI). Some are RocketX exchange vs Dai, Basis Cash vs Dai, Truegame vs Dai, Soy Finance vs Dai, Rbicycle vs Dai, Dapp Token vs Dai, Verve vs Dai, Alpha Pad vs Dai, GombShare vs Dai, NOVA vs Dai.
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