Dai Market Cap Reaches $5.35 Billion (DAI)

Dai (DAI) traded up 0% against the U.S. dollar during the 24-hour period ending at 22:00 PM E.T. on August 3rd. Dai has a market cap of $5.35 billion and approximately $106.26 million worth of Dai was traded on exchanges in the last day. In the last seven days, Dai has traded down 0% against the U.S. dollar. One Dai token can now be purchased for $1.00 or 0.00001647 BTC on popular cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed in the last day:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% 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.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher 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 down 0.4% against the dollar and now trades at $0.0123 or 0.00000020 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 17.1% lower against the dollar and now trades at $0.0811 or 0.00000134 BTC.

About Dai

Dai was first traded on November 18th, 2019. Dai’s total supply is 5,347,888,596 tokens. Dai’s official message board is medium.com/@MakerDAO. The official website for Dai is makerdao.com. Dai’s official Twitter account is @makerdao and its Facebook page is accessible here. The Reddit community for Dai is /r/makerDAO and the currency’s Github account can be viewed here.

According to CryptoCompare, “Dai is a decentralized, stablecoin cryptocurrency built on the Ethereum blockchain. It is designed to maintain a stable value relative to the US Dollar, and is backed by a reserve of collateral-backed tokens and other assets. Dai is an ERC-20 token, making it fully compatible with other Ethereum-based networks and wallets. It is designed to be used as a medium of exchange, store of value, and for facilitating online payments, money transfers, and other financial services. Dai was created by MakerDAO, a decentralized autonomous organization founded in 2014 by Danish entrepreneur Rune Christensen, and was officially launched on the main Ethereum network on December 18, 2017.”

Buying and Selling Dai

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

DAI/USD price chart by TradingView