DAI, a prominent stablecoin in the crypto market, is undergoing a significant shift. The entity behind DAI, MakerDAO, has rebranded to
Sky and announced a substantial rehaul of its product offering, including new stablecoins and governance tokens. MakerDAO's rebrand has churned the stablecoin market, with alternatives including Ethena's
USDe surpassing DAI in market ranking, aided by its Comprehensive DeFi strategy. Despite this, DAI experienced notable growth after its rebrand, hitting $490m within five days.
Regulatory changes are also influencing the stablecoin market. Multiple platforms, including
Crypto.com and
Coinbase, are delisting DAI and other stablecoins due to the new MiCA regulations in Europe.
Binance will follow suit, delisting non-MiCA compliant stablecoins on March 31, 2025.
Beyond regulatory changes, the industry also faced notable security concerns. A Bybit hacker converted $3.64M of stolen assets into DAI via decentralized exchanges. Remarkably, a scammer returned $9.3M in DAI to a phished victim after ten months.
Crypto lending protocol Maker has ambitious plans, partnering up with BlackRock for its endgame, aiming at a 100 billion DAI circulation to take on its rival, Tether.
DAI remains a popular choice in the crypto market with its dollar peg and unwavering market strength, maintaining a significant presence in whale transactions.
DAI Coin News Analytics from Thu, 28 Dec 2017 03:05:08 GMT to Thu, 08 May 2025 07:12:15 GMT -
Rating -7
- Innovation 5
- Information 8
- Rumor -5
