About Dai
Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. Note: if the Dai credit system is upgraded or shutdown, Dai holders may need to convert their Dai to Ethereum through the Maker platform. Read more at makerdao.com/whitepaper.
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Trading Insights
Traders
2.3K
Market Stats
Market Cap
CA$7.39B
FDV
CA$7.39B
Circ. Supply
5.4B DAI
Max Supply
Not enough data
Total Supply
5.4B DAI
Performance
Popularity
#29
Dominance
0.14%
Volume (24H)
CA$159.79M
28.8%
Volume (7D)
CA$1.09B
Volume (30D)
CA$4.03B
All time high
CA$1.88
Price Change (1Y)
-0.01%
Additional details
Market details
DAI vs markets
↘ 46.64%
DAI vs BTC
↘ 45.37%
DAI vs ETH
↘ 41.54%
Tags
defi
stablecoin
asset-backed-stablecoin
usd-stablecoin
+1
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x6B175474E89094C44Da98b954EedeAC495271d0F | |
Polygon | 0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063 | |
Avalanche C-Chain | 0xd586E7F844cEa2F87f50152665BCbc2C279D8d70 | |
Solana | EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6o |
Price history
Time | Price | Change |
|---|---|---|
Today | CA$1.38 | ↘ 0.01% |
1 Day | CA$1.38 | ↘ 0.01% |
1 Week | CA$1.39 | 0.00% |
1 Month | CA$1.39 | ↘ 0.01% |
1 Year | CA$1.36 | ↘ 0.01% |
Coinbase insights
Recent trends
The latest DAI price is CA$1.38. Dai's all time high is CA$1.88, which was reached on February 3, 2018. This is a -27% change from its price today.
The market cap is currently CA$7.39B, which is a result of multiplying the current price of Dai(CA$1.38) by the total supply(5,365,382,703 DAI). The fully diluted valuation of Dai is CA$7.39B. The diluted valuation of Dai is CA$7.39B.
FAQ
Dai (DAI) is a stablecoin designed to maintain a value close to the U.S. dollar. It operates on the Ethereum blockchain and is managed by the Maker Protocol, a decentralized system governed by MakerDAO. Unlike traditional fiat-backed stablecoins, Dai is generated through a system of collateralized debt positions (CDPs), where users lock up various crypto assets to create Dai. The protocol is designed to maintain its stability algorithmically through smart contracts and decentralized governance.
Dai is created when users deposit accepted cryptocurrencies into Maker Vaults within the Maker Protocol. These vaults serve as collateralized positions, ensuring that Dai remains overcollateralized to support its stability. Depending on the asset used, the collateralization ratio typically ranges from 101% to 175%. If the collateral falls below the required threshold, the system automatically liquidates it to maintain stability. Issuance and burning of Dai are executed through Ethereum-based smart contracts, ensuring transparency and minimizing reliance on centralized entities.
Dai seeks to provide stability in a volatile cryptocurrency market by maintaining a predictable value. It is widely used in decentralized finance (DeFi) applications, including lending, borrowing, and payments. Merchants and businesses can use Dai as a medium of exchange, while traders and investors utilize it to hedge against market fluctuations. Dai is also integrated into smart contracts, allowing developers to build applications that require a stable digital asset.
Dai was developed by MakerDAO, a decentralized organization founded by Rune Christensen in 2015. The original version, Single-Collateral Dai (SAI), launched in 2017 and was backed exclusively by Ether. In 2019, MakerDAO introduced Multi-Collateral Dai, allowing various crypto assets to be used as collateral. The ecosystem has continued to expand, with Dai becoming one of the most widely used decentralized stablecoins.
We update our Dai to CAD currency in real-time. Get the live price of Dai on Coinbase.
The current market cap of Dai is CA$7.39B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Dai is CA$1.88. This all-time high is highest price paid for Dai since it was launched.
Over the last 24 hours, the trading volume of Dai is CA$159.79M.
Assets that have a similar market cap to Dai include World Liberty Financial, Ethena, Monero, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Dai is 5.4 billion.
Dai ranks 57 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 97% of Coinbase users are buying Dai. In other words, 97% of Coinbase customers have increased their net position in Dai over the past 24 hours through trading.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Dai news
Trending articles
Social stats
Popularity in posts
#1138
Contributors
5,860
Posts
7,746
% About Dai
0.025%
Articles
7
Hold times
0 days
X (Twitter)
67.83% bullish
Sentiment
4.4 ★
Highlights
5,860 unique individuals are talking about Dai and it is ranked #1,138 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Dai has an average sentiment score of 88 out of 5. Finally, Dai is becoming less newsworthy, with 7 news articles published about Dai.
On Twitter, people are mostly bullish about Dai. There were 71.02% of tweets with bullish sentiment compared to 4.7% of tweets with a bearish sentiment about Dai. 28.98% of tweets were neutral about Dai. These sentiments are based on 2230 tweets.
On Reddit, Dai was mentioned in 216 Reddit posts and there were 7098 comments about Dai. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.