Dai (DAI) is a prominent stablecoin in the cryptocurrency market, designed to maintain a stable value pegged to the US dollar. For investors and traders in India, tracking its price in Indian Rupees (INR) is crucial for making informed decisions. This article provides a comprehensive overview of Dai's market performance, key metrics, and essential information for those interested in this digital asset.
As of the latest data, the price of Dai (DAI) stands at ₹84.7, reflecting a minor 24-hour change of 0.16%. This stability is a core feature of DAI, making it a popular choice for those seeking to avoid the volatility commonly associated with other cryptocurrencies.
Detailed Market Overview
The following metrics offer a snapshot of Dai's recent market activity and overall standing:
- 24-Hour Trading Range: The price fluctuated between a low of ₹84.55 and a high of ₹84.74.
- 24-Hour Trading Volume: The total volume of DAI traded in the past 24 hours is ₹8,57,86,41,658. Trading volume indicates the level of market activity and liquidity for the asset.
- Market Capitalization: Dai's current market cap is ₹2,75,18,19,33,517, having decreased by approximately 0.12% in the last day.
Key Supply Metrics Explained
Understanding the supply dynamics of a cryptocurrency is fundamental to evaluating its economic model.
- Circulating Supply: This represents the number of DAI tokens currently available to the public and actively traded in the market. The circulating supply is 3,24,89,84,562.74 DAI.
- Fully Diluted Market Cap (FDMC): This metric calculates the theoretical market cap if the entire maximum supply of a cryptocurrency were in circulation. For DAI, the FDMC is also ₹2,75,18,19,33,517.
- Total Supply: This figure includes all coins that have been minted or created. DAI's total supply is 3,24,89,84,562.74.
Historical Price Performance
Reviewing historical data helps identify trends and patterns in an asset's price movement. The table below shows Dai's recent performance.
| Date | Price (INR) | Volume (INR) | Market Cap (INR) |
|---|---|---|---|
| 30/04/2025 | ₹ 84.56 | ₹ 3,78,62,31,210 | ₹ 2,75,52,08,83,355 |
| 29/04/2025 | ₹ 85.16 | ₹ 4,45,99,80,356 | ₹ 2,76,89,27,79,892 |
| 28/04/2025 | ₹ 85.17 | ₹ 7,05,78,31,396 | ₹ 2,75,66,03,25,916 |
| 27/04/2025 | ₹ 85.38 | ₹ 4,74,46,76,622 | ₹ 2,80,43,82,36,708 |
| 26/04/2025 | ₹ 85.37 | ₹ 4,64,25,40,569 | ₹ 2,79,91,16,80,140 |
| 25/04/2025 | ₹ 85.39 | ₹ 8,10,02,68,825 | ₹ 2,78,01,85,46,535 |
| 24/04/2025 | ₹ 85.24 | ₹ 7,44,42,04,426 | ₹ 2,78,88,44,85,214 |
This data reveals a period of remarkable consistency, which is characteristic of a well-maintained stablecoin. For those looking to dive deeper into market analysis, you can explore advanced charting tools that provide real-time data and technical indicators.
Why is Dai (DAI) Considered a Stablecoin?
Unlike cryptocurrencies like Bitcoin or Ethereum, whose prices are determined by market speculation, Dai is a decentralized stablecoin. Its value is soft-pegged to the US Dollar and is stabilized through a system of collateralized debt positions (CDPs), autonomous feedback mechanisms, and incentivized external actors. This complex system is designed to ensure that 1 DAI always remains close to a value of $1 USD, which translates to its relatively stable value in INR.
Frequently Asked Questions
What is Dai (DAI) cryptocurrency?
Dai is a decentralized, collateral-backed stablecoin built on the Ethereum blockchain. It is designed to maintain a stable value relative to the US dollar, making it a useful tool for trading, lending, and borrowing within the crypto ecosystem without exposure to high volatility.
How does Dai maintain its price stability?
Dai maintains its stability through an automated system of smart contracts on the Maker protocol. Users lock collateral assets (like ETH) to generate DAI. If the value of the collateral falls too close to the value of the borrowed DAI, the position is automatically liquidated to stabilize the system and keep the DAI price pegged.
Is investing in Dai a good way to avoid market volatility?
Yes, that is its primary purpose. Holding Dai is akin to holding a digital version of the US dollar within the crypto space. It allows investors to park their funds in a stable asset during periods of high market turbulence without having to convert back to fiat currency.
Where can I buy and sell Dai (DAI) in India?
Dai can be bought and sold on numerous cryptocurrency exchanges that serve the Indian market. It is essential to use a reputable and compliant platform that supports INR deposits and withdrawals for a seamless trading experience.
What is the difference between market cap and fully diluted market cap for Dai?
Market cap is based on the current price and the circulating supply. Fully diluted market cap (FDMC) is a theoretical value based on the current price and the maximum possible supply. For many stablecoins like Dai, these figures can be identical if the circulating supply is the total supply.
Can the value of Dai ever deviate significantly from its peg?
While the system is designed to prevent significant deviation, extreme market conditions can cause temporary price fluctuations above or below the $1 peg. The MakerDAO protocol's governance community actively votes on parameters and adjustments to correct these deviations and maintain stability. To stay updated on these mechanisms, you can view real-time governance proposals.