Dai Market Cap Hits $4.66 Billion (DAI)

Dai (DAI) traded down 0% against the dollar during the 1-day period ending at 8:00 AM Eastern on July 15th. Dai has a total market cap of $4.66 billion and $64.20 million worth of Dai was traded on exchanges in the last 24 hours. One Dai token can currently be bought for approximately $1.00 or 0.00001544 BTC on major exchanges. Over the last seven days, Dai has traded 0% higher against the dollar.

Here is how related cryptocurrencies have performed over the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• UZDT (UZDT) traded down 0.2% against the dollar and now trades at $1.00 or 0.00001544 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 2.3% higher against the dollar and now trades at $64,393.47 or 0.99448477 BTC.

About Dai

Dai was first traded on November 18th, 2019. Dai’s total supply is 4,660,947,770 tokens. Dai’s official message board is medium.com/@MakerDAO. Dai’s official Twitter account is @makerdao and its Facebook page is accessible here. The official website for Dai is makerdao.com. The Reddit community for Dai is /r/makerDAO and the currency’s Github account can be viewed here.

According to CryptoCompare, “The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere. Dai is collateral-backed money whose value is pegged to the US Dollar and kept stable through a framework of aligned financial incentives. The Dai token lives on the Ethereum blockchain; its stability is unmediated by any central party, and its solvency does not rely on any trusted counterparties. All circulating Dai are generated from Maker Vaults and are backed by a surplus of collateral assetsTelegram, YouTube, Reddit, GitHub, MediumWhitepaper”

Buying and Selling Dai

It is usually not currently possible to purchase alternative cryptocurrencies such as Dai directly using U.S. dollars. Investors seeking to trade Dai should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Dai using one of the exchanges listed above.

DAI/USD price chart by TradingView