⇘ Navigating the Cryptoverse: Turmoil and Triumphs of DAI Coin

The **cryptocurrency world** has seen a whirlwind of events surrounding **DAI Coin**. The first big revelation is the rebranding of **MakerDAO** to **Sky**, which also came with a **new stablecoin** and governance token. However, the change has sparked controversy within the Decentralized Finance (DeFi) community. The rebranded **Maker** (now **Sky**) announced **PureDai**, a decentralized alternative intending to replace **DAI**. Apart from the rebranding, a **$55 million DAI coin theft** stunned the community after a phishing attack. In response to MakerDAO's recent moves, **Aave** contemplates dropping **DAI** as collateral due to contagion concerns. Amid the reactions, MakerDAO assures of launching a **fully decentralized stablecoin** and addresses the backlash over the freeze function. The rebranding also intends to meet the steady demand for DAI, which hit a record transaction volume of **$240B**. However, due to **MiCA Regulations**, **Uphold** has announced it will end support for several stablecoins, including **USDT, DAI, FRAX**. Amid these developments, Rune Christensen clarifies why he aspires to remake Maker and eliminate DAI. On the other side, **Japanese cryptocurrency exchange** bitFlyer lists DAI as its first stablecoin, and **Shiba Inu** cryptocurrency surpasses **LTC and DAI** to become the 16th biggest cryptocurrency by market cap.

DAI Coin News Analytics from Wed, 11 Oct 2023 07:00:00 GMT to Mon, 23 Sep 2024 13:55:36 GMT - Rating -5 - Innovation 2 - Information 4 - Rumor -3