↗ DAI Coin's Journey: Remembering highs and lows in the shifting landscapes of stablecoins
DAI , a well-known stablecoin, has generated much attention recently. Notable updates include MakerDAO , the project behind DAI, rebranding as...
The cryptocurrency market continues to evolve dynamically, with significant shifts and trends observed amongst various stablecoins. DAI, also known as Sky, has been mired in controversy due to regulatory issues discussed in MiCA regulations, causing several digital currency platforms such as Binance, Crypto.com, Coinbase, and Uphold to announce delisting of DAI and other stablecoins. This move is primarily driven by the need to comply with new digital finance regulations implemented across Europe.
Despite this, DAI showed impressive performance by hitting $490m just five days after its stablecoin rebrand. However, it has faced fierce competition from Ethena’s USDe stablecoin, which surpassed DAI to become the third-largest stablecoin in the market. There was also a significant market shock with USDe dethroning DAI from its previously held position.
Furthermore, The Dai Lo announced the acquisition of Fractal Network and Grayscale launched a fund to invest in MakerDAO Token. MakerDAO, now renamed to Sky, has moved towards deploying its new stablecoin on Solana. Meanwhile, amidst all of this, Ethereum Whale decided to sell $12 million of ETH for DAI during a market slump.
DAI Coin News Analytics from Thu, 28 Dec 2017 03:05:08 GMT to Wed, 09 Apr 2025 17:13:12 GMT - Rating 3 - Innovation 5 - Information 7 - Rumor -4
