DAI stablecoin, initially developed by
MakerDAO, represents a significant step forward in the cryptocurrency market. However, in recent times, it has faced regulatory controversy and keen competition from rivals.
Ethena's USDe remarkable surge has dethroned DAI from the position as the third-largest stablecoin.
Sky, formerly known as MakerDAO, has also introduced USDS, an upgradeable alternative to DAI.
PureDai, a decentralized counterpart to DAI, also stands to emerge. Even amidst this competition, the demand for DAI stays unabated. The stablecoin havs succesfully expanded its footprint on notable platforms, including
Coinbase and
bitFlyer. Its efficacy was more visible when it reclaimed a whopping $490 million within just five days of its rebranding. Furthermore, the growing fragmentation of stablecoin interest becomes apparent as Coinbase made the strategic decision to delist multiple other stablecoins, like the compelling USDT. Another fascinating development for DAI includes its part in
Ethereum's pricing kinetics. Additionally, DAI has witnessed surpassing transaction volume, far exceeding that of
Visa.
DAI Coin News Analytics from Wed, 20 Nov 2019 13:08:27 GMT to Tue, 28 Jan 2025 14:57:46 GMT -
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- Information 8
- Rumor -5
