Vitalik Buterin, Ethereum's co-founder, has been dealing with DAI and meme coins, displaying the volatility of the cryptocurrency market. Amid this,
MakerDAO, the organization behind the DAI stablecoin, rebranded to
Sky, with DAI becoming
USDS. There was a quick adoption of the rebranded stablecoin, evidenced by it hitting $490 million in five days. The rebranding hasn't been without controversy, especially concerning the optional freeze function in the new USDS stablecoin. MiCA regulations have sparked some controversy with the delisting of certain coins, including
USDT and DAI, by various exchanges including Binance and Coinbase in Europe. In terms of trading volume,
Ripple's RLUSD and
Ethena's USDe have surpassed DAI, but Grayscale still launched a fund to invest in the MakerDAO Token.
MakerDAO plans to launch a fully decentralized stablecoin as they continue to adjust their model to the evolving cryptocurrency market. Additionally, they unveiled ambitious endgame plans with two new stablecoins. The volatile market has led to users looking for altcoins that could yield high returns in upcoming weeks. Amid this, DAI has been struggling to maintain its dollar peg amidst the stablecoin rout causing instability in the cryptocurrency market. As the instability continues, the question of which stablecoin will take precedence in 2025 between USDT and DAI amid the 1Fuel hype is raised. Despite the transitions and controversies, DAI maintains unwavering market strength. Meanwhile, cryptocurrency exchanges continue to support DAI by listing it and enabling DAI deposits and withdrawals.
DAI Coin News Analytics from Thu, 28 Dec 2017 03:05:08 GMT to Tue, 18 Mar 2025 13:56:32 GMT -
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