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Market stats

Market cap


Volume (24h)


Circulating supply

5.3B DAI

Typical hold time

8 days



All time high


Price change (1h)


Price change (24h)


Price change (7d)


About Dai

Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. Note: if the Dai credit system is upgraded or shutdown, Dai holders may need to convert their Dai to Ethereum through the Maker platform. Read more at makerdao.com/whitepaper.

What is Dai?

Dai (DAI) is a stablecoin, a type of cryptocurrency that strives to keep its value stable relative to a specific asset or a pool of assets. In the case of Dai, it is soft-pegged to the U.S. dollar. It operates on the Ethereum blockchain and is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. Unlike other cryptocurrencies, Dai is not created by a single entity or a small group of founders. Instead, its development and issuance are governed by the MakerDAO and Maker Protocol, which are managed democratically by the holders of its Maker (MKR) governance tokens.

How does Dai work?

Dai operates on the Ethereum blockchain and is governed by the Maker Protocol. It is generated by depositing crypto-assets into Maker Vaults on the Maker Protocol. Users can access Maker Protocol and create Vaults through various interfaces. Once the collateral is locked in, users can obtain Dai against their collateral, as long as it is within the collateral ratio, which ranges from 101% to 175%, depending on the risk level of the asset locked. The issuance and burning of tokens are managed and publicly recorded by Ethereum-powered self-enforcing smart-contracts, making the entire system more transparent and less prone to corruption.

What are the potential use cases for Dai?

Dai's primary use case is to provide stability in the notoriously volatile crypto market. Its soft peg to the U.S. dollar makes it a stable asset for users looking to offset significant market fluctuations. As a stablecoin, Dai seeks to maintain a stable value compared to other cryptocurrencies, which can experience significant price changes within a single day. Additionally, because it is managed by a decentralized autonomous organization via a software protocol, it offers a level of transparency and democratic governance that may appeal to users seeking alternatives to traditional financial systems.

What is the history of Dai?

Dai was not created by a single person or a small group of co-founders. Instead, its development and issuance are governed by the MakerDAO and Maker Protocol. MakerDAO was originally founded by Danish entrepreneur Rune Christensen in 2015. The Dai stablecoin was launched in November 2019. It is important to differentiate between Multi-Collateral Dai and Single-Collateral Dai (SAI), an earlier version of the token that could only be collateralized by a single cryptocurrency. As of November 2020, there were around 940 million Dai in circulation. Dai has generally maintained its peg to the USD, despite market fluctuations and the emergence of other stablecoins.

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Dai price is unchanged in the past week.

The price increased by 0.01% in the last 24 hours. In just the past hour, the price grew by 0.01%. The current price is $1.00 per DAI. Dai is 72.75% below the all time high of $3.67.

The current circulating supply is 5,347,888,595.746 DAI.


What is the current price of Dai?

We update our Dai to USD currency in real-time. Get the live price of Dai on Coinbase.

What is the market cap of Dai?

The current market cap of Dai is $5.35B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Dai?

The all-time high of Dai is $3.67. This all-time high is highest price paid for Dai since it was launched.

What is the 24 hour trading volume of Dai?

Over the last 24 hours, the trading volume of Dai is $303.40M.

What other assets are similar to Dai?

Assets that have a similar market cap to Dai include Wrapped TRON, Chainlink, Toncoin, and many others. To see a full list, see our comparable market cap assets.

How many Dai are there?

The current circulating supply of Dai is 5.3 billion.

What is the typical holding time of Dai?

The median time that Coinbase customers hold Dai before selling it or sending it to another account or address is 8 days.

What is the relative popularity of Dai?

Dai ranks 52 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Dai?

Currently, 97% of Coinbase users are buying Dai. In other words, 97% of Coinbase customers have increased their net position in Dai over the past 24 hours through trading.

Can I buy Dai on Coinbase?

Yes, Dai is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Dai guide.

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