↘ DAI Stablecoin Sees Rapid Rebrand and Growth Despite Controversial Changes and Security Breaches
Ethereum is expected to reach $3,000 by November with contribution from ETH-based coins such as Dai , Uniswap, and Cutoshi. Markedly, Dai makes...
The world of cryptocurrency is evolving, with fresh developments reported in popular stablecoin DAI and decentralized cryptocurrency platform MakerDAO, now rebranded to Sky. Sky, known for its stablecoin DAI, announced the optional upgrade of DAI to a new stablecoin, USDS, causing a stir in the DeFi sector due to the freeze function on the new coin. Phishing attacks further stirred the sector, with a crypto whale losing over $55 million in DAI stablecoin.
AaveDAO's debate on collateral and some tension over MakerDAO's stablecoin overhaul highlighted the DeFi landscape's moot points. Furthermore, amidst these dramatic shifts, DAI's transaction volume reached a record $240B in a mere week.
Several top platforms have showed great interest, adding offerings related to DAI and Sky. Grayscale, a noted crypto investment platform, launched a fund dedicated to MakerDAO, with bitFlyer, a Japanese crypto exchange, listing its first stablecoin - DAI. Conversely, Uphold announced intentions to delist USDT and other stablecoins including DAI due to MiCA regulations.
Though MakerDAO's new USDe move has sparked controversy, causing Aave to consider dropping DAI as collateral, it also aims to be compliant instead of centralized, even though it means facing DeFi conflict. Interestingly, MoonBag scored as one of the top meme coin presales, amidst DAI's high demand and Near Protocol's fast transactions.
DAI Coin News Analytics from Sat, 07 Aug 2021 07:00:00 GMT to Tue, 22 Oct 2024 17:12:17 GMT - Rating -1 - Innovation 5 - Information 8 - Rumor 2
