Dai Price (DAI)

Dai (DAI) is a stablecoin, a type of cryptocurrency that strives to keep its value stable relative to a specific asset or a pool of assets. In the case of Dai, it is soft-pegged to the U.S. dollar. It operates on the Ethereum blockchain and is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. Unlike other cryptocurrencies, Dai is not created by a single entity or a small group of founders. Instead, its development and issuance are governed by the MakerDAO and Maker Protocol, which are managed democratically by the holders of its Maker (MKR) governance tokens.

Dai operates on the Ethereum blockchain and is governed by the Maker Protocol. It is generated by depositing crypto-assets into Maker Vaults on the Maker Protocol. Users can access Maker Protocol and create Vaults through various interfaces. Once the collateral is locked in, users can obtain Dai against their collateral, as long as it is within the collateral ratio, which ranges from 101% to 175%, depending on the risk level of the asset locked. The issuance and burning of tokens are managed and publicly recorded by Ethereum-powered self-enforcing smart-contracts, making the entire system more transparent and less prone to corruption.

Dai's primary use case is to provide stability in the notoriously volatile crypto market. Its soft peg to the U.S. dollar makes it a stable asset for users looking to offset significant market fluctuations. As a stablecoin, Dai seeks to maintain a stable value compared to other cryptocurrencies, which can experience significant price changes within a single day. Additionally, because it is managed by a decentralized autonomous organization via a software protocol, it offers a level of transparency and democratic governance that may appeal to users seeking alternatives to traditional financial systems.

Dai was not created by a single person or a small group of co-founders. Instead, its development and issuance are governed by the MakerDAO and Maker Protocol. MakerDAO was originally founded by Danish entrepreneur Rune Christensen in 2015. It is important to differentiate between Multi-Collateral Dai, launched in November 2019, and Single-Collateral Dai (SAI), an earlier version of the token that could only be collateralized by a single cryptocurrency, Ether, launched in December 2017. As of February 2024, there were around 5.3B Dai in circulation. Dai has generally maintained its peg to the USD, despite market fluctuations and the emergence of other stablecoins.

We update our Dai to USD currency in real-time. Get the live price of Dai on Coinbase.

The current market cap of Dai is $5.36B. A high market cap implies that the asset is highly valued by the market.

The all-time high of Dai is $1.37. 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 $170.20M.

Assets that have a similar market cap to Dai include Chainlink, Polkadot, Polygon, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Dai is 5.4 billion.

The median time that Coinbase customers hold Dai before selling it or sending it to another account or address is 8 days.

Dai ranks 62 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.

Yes, Dai is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Dai guide.