The DAI stablecoin is a cornerstone of the decentralized finance (DeFi) ecosystem, designed to maintain a value pegged to the US dollar. This article provides a comprehensive analysis of its current market performance, historical data, and key metrics.
Current DAI Price and Market Performance
As of the latest data, the DAI price stands at approximately $28.87. Its 24-hour trading volume is $36.37 million, reflecting active market participation. With a market capitalization of $104.23 billion, DAI holds a market dominance of about 0.1%. Over the past 24 hours, its price has seen a minor decrease of 0.11%.
Key Price Data Points
- 24-Hour Trading Volume: $36.37M
- All-Time High Price: $35.27
- 24-Hour High: $28.97
- All-Time Low Price: $25.49
- 24-Hour Low: $28.86
Market Capitalization Insights
- Market Cap: $104.23B
- Fully Diluted Market Cap: $123.2B
- Market Cap / FDMC Ratio: 84.6%
- Overall Market Sentiment: Bullish
DAI Supply Metrics
- Circulating Supply: 3.6B DAI
- Total Supply: 3.6B DAI
- Maximum Supply: 4.26B DAI
Historical DAI Price Trends
Understanding past performance is key to contextualizing the present. DAI's price has shown remarkable stability, as expected from a well-collateralized stablecoin.
- Past 24 Hours: -0.11%
- Past 7 Days: -0.15%
- Past 30 Days: -0.02%
- Past 1 Year: +0.01%
| Time Frame | Change | Percentage Change |
|---|---|---|
| 1 Hour | -$0.008666 | -0.03% |
| 24 Hours | -$0.0318 | -0.11% |
| 7 Days | -$0.04338 | -0.15% |
| 30 Days | -$0.005776 | -0.02% |
| 1 Year | +$0.002887 | +0.01% |
Understanding DAI's Price Stability
Unlike volatile cryptocurrencies, DAI is a decentralized stablecoin soft-pegged to the US Dollar. Its value is maintained through an automated system of collateralized debt positions (CDPs), autonomous feedback mechanisms, and incentivized external actors. This complex system ensures that DAI remains resilient during market turbulence, making it a trusted medium of exchange and store of value within DeFi. For those looking to explore advanced DeFi strategies that utilize stablecoins, understanding these mechanics is crucial.
Long-Term Outlook and Considerations
Given its design, DAI's primary long-term value proposition is stability, not price appreciation. Its target value is and will remain ~$1.00. Therefore, traditional cryptocurrency price prediction models based on historical volatility have limited application. The future "price" of DAI is less about dollar value fluctuation and more about its adoption rate, the robustness of its collateral system, and its utility within the broader blockchain ecosystem. The health of the Maker protocol and the diversity of its collateral backing are more significant indicators than price charts.
Frequently Asked Questions
What is DAI and how does it maintain its peg?
DAI is a decentralized, collateral-backed stablecoin created by the Maker Protocol. It maintains its peg to the US dollar through a system where users generate DAI by locking up more valuable crypto assets as collateral. If the value of DAI drifts, arbitrage opportunities and system incentives encourage actors to push it back to $1.
Is DAI a safe asset to hold?
DAI is generally considered one of the safer crypto assets due to its over-collateralization mechanism. However, like any decentralized protocol, it carries smart contract risk and collateral risk (e.g., if the value of the locked assets drops extremely rapidly). It is always prudent to conduct thorough research on the current state of its collateralization.
Can the price of DAI change?
Yes, DAI can experience minor deviations from its $1 peg due to market supply and demand dynamics. These are usually small and short-lived, as the protocol's mechanisms quickly act to restore the peg, making it a highly stable asset compared to non-stablecoin cryptocurrencies.
What is the difference between DAI and USDC?
The primary difference is centralization. USDC is issued by a centralized company (Circle) and backed by cash and bonds held in audited bank accounts. DAI is decentralized, issued by a protocol, and backed by a diverse basket of other cryptocurrencies. This makes DAI censorship-resistant but introduces different types of risk.
Where can I use DAI?
DAI has widespread utility across the DeFi landscape. You can use it for lending and borrowing on platforms like Aave and Compound, as a trading pair on decentralized exchanges, for earning yield, and even for payments with certain merchants and services that accept cryptocurrency.
What does 'fully diluted market cap' mean for DAI?
The fully diluted market cap (FDMC) calculates the market cap if the entire maximum supply of DAI tokens were in circulation. For DAI, this figure provides a view of the protocol's potential maximum scale, but the circulating supply is directly tied to the demand for generating DAI against collateral.