Everything related to DeFi seems to be turning into a record high and new ATH right now. This is largely due to the fact that this project was born recently. The latest news concerns MakerDAO's DAI stablecoin. The latter has just crossed a new record for units in circulation (supply). And a nice comeback in the ranking of its category.
When it comes to DeFi, DAI is never far away . This is the decentralized stablecoin dedicated to this universe and developed by the MakerDAO protocol . A token that has suffered greatly from the fall in prices on Black Thursday at the height of the coronavirus crisis . A vertiginous drop in the price of ETH had then led to a cascade liquidation of contracts making it possible to generate - and collateralize - this stablecoin.
But the solidity of DeFi and its community has gone through this, sweeping an inventory then mixed to know its current explosion which is approaching 1000% over the last twelve months . Currently, $ 4.72 billion is blocked in its various protocols. For a dominance of MakerDAO which is slowly coming back from a rapid passage to second place with 30% of the market at present.
An offer of 400 million DAI
The demand for DAI has increased sharply since the start of this year. This is in large part due to the ongoing DeFi bubble and liquidity mining that is whipping up appetites. Its market capitalization jumped 200% in July alone, placing it in 32nd position in the ranking of cryptocurrencies by capitalization. This allows it to climb on the stablecoins podium in 3rd position , just behind the USDC and the Tehter (USDT) .
The current success of the DAI is also partly linked to its difficulty in positioning itself stably against the dollar (like the USDT). This allows DeFi liquidity providers to carry out arbitrage operations on platforms like Curve , specializing in the field of stablecoins. It is currently trading in a range between $ 1.01 and $ 1.03.
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