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Dai

DAI

Dai Market Stats

Dai Price

$22,014.48

Dai Price Change (24H)

$22,014.48

Dai Price (24H Low)

$22,014.48

Dai Price (24 High)

$22,014.48

Dai Price (All Time High)

$22,014.48

Dai Market Cap

$22,014.48

Dai Volume (24H)

$22,014.48

Dai Circulating Supply

$22,014.48

Dai Price Live Data

The live [Bitcoin] price today is [$20,014.48] with a 24-hour trading volume of [$44.6b]. The [BTC] price is updated in real-time. [Bitcoin] is [up/down] [45.77%] in the last 24 hours. The current [Bitcoin] live market cap is [$189,3B] with a circulating supply of [121.3M] [BTC] coins and a max supply of [21,000,000] [BTC] coins.

Looking to buy [Bitcoin] at the current rate? The best cryptocurrecny exchanges for trading for [Bitcoin] stocks and coins are Bitbuy, CoinSmart, NetCoins, Netwon, and Crypto.com; you can find other [Bitcoin]-[BTC] exchanges on our best crypto exchange, best crypto exchange in Canada and best crypto exchange in the USA pages.

What is DAI?

DAI is the first collateral-backed cryptocurrency that aims to keep its value pegged to the U.S. dollar at all times. It does this by tying other cryptocurrencies into contracts.

This cryptocurrency is a byproduct of an open-source project called the Maker Protocol, a blockchain-based decentralized platform. The Maker Protocol uses a smart contract built on the Ethereum blockchain to secure loans. They, in turn, get new DAI tokens.

The value of this token is backed by Ether (ETH) rather than dollars stored by a bank.

The platform’s lending service allows borrowers to secure a loan using their assets. Lenders can take the collateral and sell it if the borrower defaults. Hence, the interest rate on secured loans has historically been lower than on unsecured loans.

Borrowers who want their locked ETH back must give the protocol the DAI and pay a fee. If they fail to pay back, the Maker Protocol will seize the collateral and auction it off in an internal market-based auction.

Dai Token - Comparewise

Who Created DAI?

Rune Christensen created MakerDAO and serves as CEO of the Maker Foundation, both of which are crucial to the Maker protocol’s ecosystem. He spent years at the University of Copenhagen and Copenhagen Business School diving into the world of cryptocurrencies. During this period, he started a company that employed Westerners to teach English in China.

When he learned about Bitcoin in 2011, he decided to sell his company and put his money into this digital currency. Christensen became intrigued by stablecoins after the 2014 hack and subsequent collapse of Mt. Gox.

In 2015, Christensen established MakerDAO to bring a better and more transparent financial system to the globe. Maker started as one of the first Ethereum protocols and has since grown to become the largest.

How Does DAI Work?

DAI is an asset in the cryptocurrency market that is collateralized by a pool of other cryptocurrencies. Users can use ETH to buy this crypto coin on an exchange at a rate of one DAI to one dollar. Alternatively, they can use the Maker Protocol to collateralize ETH and other assets to buy this crypto coin.

This second method is called over-collateralization. Over-collateralization occurs when the required deposit amount is higher than the value of the DAI deposited. This is done to account for the inherent instability of crypto collateral.

To compensate for the potential decline in the value of ETH, customers must spend $200 in ETH to purchase $100 in DAI. Therefore, even if the value of ETH drops by 25%, the $100 DAI will still be backed by $150 ETH.

To retrieve the deposited ETH, the user must return the DAI and pay a stability fee.

Is DAI a Good Investment?

One of the most appealing features of this cryptocurrency is that it offers the transactional advantages of a cryptocurrency with less volatility. It’s all an advantage of its relationship with the U.S. dollar. DAI was developed as an ERC-20 token for the Ethereum network.

The Ethereum Request for Comment (ERC), a set of standards adopted in 2015, facilitates the creation of smart contracts on the Ethereum network and reduces the associated development time. DAI may be used in several decentralized software systems (DApps) when borrowed or purchased. It is also helpful in the realms of gaming, decentralized finance (DeFi), and non-fungible coins (NFTs).

FAQs about DAI

How Many DAI Are There?

The total quantity of DAI that can ever be created is not fixed. It fluctuates based on how much collateral is currently stored in the vaults. By the end of 2020, there were about 940 million in circulation.

How is DAI Secured?

Due to this cryptocurrency’s status as an Ethereum-based ERC-20 token, it is encrypted using the Ethereum Ethash Algorithm. DAI follows the guidelines laid out by MakerDAO.

What Can You Use DAI for?

DAI is an effective tool for crypto traders to reduce their risk exposure. Users may choose to keep all or a portion of their funds in this crypto coin during periods of extreme market volatility.

Dai News

Loan Amount

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Loan Amount

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Dai Community

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Dai Analysis

DAI Analysis Summary

The analysts’ consensus is that this cryptocurrency’s price will rise by the end of 2024. WalletInvestor predicts a price of $1.065 for the future. According to the data presented by PricePrediction.net, its value could go as high as $2.610492. TradingBeast’s forecast is also upbeat, with analysts projecting that DAI will hit $1.269586 by 2024.

The market will grow in 2025, with WalletInvestor and PricePrediction.net forecasting values of $1.105 and $3.837423, respectively. TradingBeast’s forecast that this crypto coin’s value will reach $1.259231 by December 2025 is supported by other estimations.

The research community presents two conflicting scenarios for DAI price projections in 2030. WalletInvestor projects that the cryptocurrency’s value will peak at $1.20445 by the decade’s conclusion. TradingBeast’s price prediction is in line with an uptrend expectation of $1.725146. However, the forecast from PricePrediction.net is still negative, with a drop to $0.191871 expected.

The above research indicates that estimates are highly variable. No one can agree on whether or not the price of DAI will go up or down in the future. In reality, several factors will determine the extent to which this crypto coin can flourish in the future.

Analysis Q&As

What is Dai price today?

Dai price today is [price] within 24-hour trading volume of [Volume].

What was the highest price for Dai?

Dai hit an all time high of [All High].

What was the lowest price for Dai?

Dai had an all time low of [All Low].

What was the 24 hours trading volume of Dai?

The 24 hour trading volume of Dai is [Volume].

Where can Dai be traded?

You can trade Dai on Crypto.com, Kraken, Binance, and FTX. The popular trading pairs for Dai in the market includes DAI/USD, Dai/CAD, Dai/EUR, Dai/GBP, and Dai/AUD. Dai is a token that is related to the DeFi... categories.

What exchange is Dai on?

Online traders can buy or sell Dai (DAI) on the top crypto exchange, such as Crypto.com, Kraken, Binance, and FTX.

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Dai Technicals

See Comparewise coin rating definitions for more information.

Dai Price Statistics
Dai Price Today

08/16/2022

Dai Price

$22,014.48

Dai Price Change (24H)

$22,014.48

Dai Price (24H Low)

$22,014.48

Dai Price (24H High)

$22,014.48

Dai Price (All Time High)

$22,014.48

Dai Market Cap

$22,014.48

Dai Volume (24H)

$22,014.48

Dai Circulating Supply

$121.3M

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