Dai (DAI) Achieves Market Capitalization of $5.36 Billion

Dai (DAI) traded 0% lower against the dollar during the 1 day period ending at 10:00 AM ET on April 11th. One Dai token can currently be bought for about $1.00 or 0.00001215 BTC on major cryptocurrency exchanges. In the last week, Dai has traded 0% lower against the dollar. Dai has a market capitalization of $5.36 billion and $2.61 billion worth of Dai was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 0.5% higher against the dollar and now trades at $81,840.73 or 0.99491912 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.3% against the dollar and now trades at $81,476.42 or 0.99049029 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Dai Profile

Dai’s launch date was November 18th, 2019. Dai’s total supply is 5,365,382,703 tokens. Dai’s official message board is medium.com/@MakerDAO. Dai’s official Twitter account is @makerdao and its Facebook page is accessible here. The official website for Dai is makerdao.com. The Reddit community for Dai is /r/makerDAO and the currency’s Github account can be viewed here.

According to CryptoCompare, “The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere.Dai is collateral-backed money whose value is pegged to the US Dollar and kept stable through a framework of aligned financial incentives.The Dai token lives on the Ethereum blockchain; its stability is unmediated by any central party, and its solvency does not rely on any trusted counterparties.”

Buying and Selling Dai

It is usually not currently possible to buy alternative cryptocurrencies such as Dai directly using U.S. dollars. Investors seeking to trade Dai should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Dai using one of the aforementioned exchanges.

DAI/USD price chart by TradingView