Maker DeFi Token Jumps 30% as Users Turn to DAI Stablecoin Amid Terra's Collapse
Amid Terra's collapse, investors have flocked back to Maker's native governance token and the DeFi protocol's native stablecoin DAI.
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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.
The price of Dai has fallen by 0.05% in the past 7 days. The price declined by 0.05% in the last 24 hours. In just the past hour, the price shrunk by 0.05%. The current price is $0.999 per DAI. Dai is 72.78% below the all time high of $3.67.
The current circulating supply is 6,420,714,255.437 DAI.
Dai was mentioned in 1,215 out of 2,094,592 social media posts on Twitter and Reddit on May 15, 2022. 1,112 unique individuals are talking about Dai and it is ranked #105 in most mentions and activity from collected posts.
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