- The price of the DAI crypto has been trading static for the last year.
- Crypto has high liquidity based on its market cap.
Dai is a decentralized stablecoin built on Ethereum that aims to maintain parity with the US dollar. It serves as a medium of exchange and store of value, offering decentralized financial services. MakerDAO, founded by Rune Christensen in 2014, developed Dai, which launched on the Ethereum network in December 2017.
The volatility of the DAI crypto is very low as it is a stablecoin, which results in a volatility of 0.10%. The crypto sentiment is bullish as of Coincodex, and the fear and greed index is at 66, indicating greed among investors.
The trading volume of the DAI has witnessed a massive surge of 164% in just the last 24 hours, resulting in a traded value of $1.23B. Also, the traded volume ranking is 10th in the global cryptocurrency market.
The crypto market cap has been trading flat over the last 24 hours, and its value is $5.35B. Also, DAI is the 22nd most prominent cryptocurrency in the global cryptocurrency market. This further results in a volume/market cap ratio of 23.11%.
The following volume/market cap ratio of the DAI crypto shows that the coin’s liquidity is very high. The circulating supply of the crypto is 5.347B DAI, which is similar to its total supply. Also, the maximum supply of the crypto is infinite, and the fully diluted market cap is $5.35B.
The all-time high price achieved by the DAI crypto is $3.67, and the current price is trading 72% below the all-time high. Moreover, the all-time high was achieved on November 16, 2021.
Also, the all-time low price of the crypto is $0.897, which was achieved a year ago on March 11, 2023. The price further has advanced by 11.5% since then.
The supply inflation of the DAI crypto is medium, which results in 2.71%, and the market cap dominance of the crypto is 2.71%.
Social Dominance Vs. Twitter Followers
Being a stablecoin, the social dominance of the crypto does not affect its performance, and it currently needs to be improved. The number of Twitter followers on the crypto page is also deficient.
DAI Crypto Technical Chart Overview
The technical chart of the DAI crypto shows that price trading has been in a similar range for a long time, followed by uncertain spikes in the price. Being a stablecoin, the cost of the crypto might continue to rely on the same range and might result in any significant change in price if the USD witnesses any big event.
Summary
Dai, a stablecoin on Ethereum, maintains stability against the US Dollar. With a market cap of $5.35B, it boasts high liquidity and low volatility. Founded by MakerDAO in 2014, it’s a reliable medium of exchange and store of value. Despite stable performance, its price remains neutral, subject to USD fluctuations.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.