Dai is a decentralised currency that offers equal opportunities to all individuals and businesses. It provides the advantages of digital money and stands out as a valuable token in the crypto market. Dai has gained recognition as one of the initial stablecoins launched on the Maker Protocol. If you're wondering, "Is DAI crypto a good investment?" or "What is DAI crypto used for?" or DAI crypto price history, DAI crypto price prediction today and, more importantly, DAI crypto price prediction for 2023 and beyond, you have come to the right place.
What is DAI crypto?
DAI is a decentralised cryptocurrency backed by collateral, making it unique among cryptocurrencies. Unlike other profit-driven asset-backed currencies, it aims to maintain a 1:1 value with the US dollar.
DAI is created through the Maker Protocol, which operates on the Ethereum blockchain. It achieves value stability using collateralised debt denominated in ETH, Ethereum's native currency.
Within the MakerDAO network are two native tokens: MKR, a governance token, and DAI, a stablecoin. As a stablecoin, DAI's value is tied to the US dollar, setting it apart from conventional cryptocurrencies that experience high volatility.
Although DAI's price may fluctuate, its value remains relatively stable compared to other cryptocurrencies. This stability is essential when considering DAI crypto price prediction for 2023 and beyond.
Dai Crypto History
The Maker Foundation launched Dai (DAI) crypto in 2017 on the Maker Protocol. Unlike many other cryptocurrencies, DAI wasn't created by a single DAI crypto creator or a small group of founders. Instead, its software development and token issuance are governed by the MakerDAO and Maker Protocol. The founder of Maker Foundation, Rune Christensen, developed the project to establish a credit system that allows users to take out loans.
MakerDAO operates as a decentralised autonomous organisation (DAO), meaning it functions in a decentralised manner through smart contracts. These smart contracts are self-enforcing agreements expressed in software code and executed on the Ethereum blockchain.
The governance of MakerDAO is democratic, with decision-making power held by the holders of Maker (MKR) tokens. These are similar to stocks in traditional companies, and MKR holders can vote on important matters related to the development of MakerDAO, Maker Protocol and DAI. The voting power of MKR holders is proportional to the amount of Maker tokens they own.
Since its launch, DAI has become the fourth largest stablecoin by market cap, surpassing $5 billion, while its circulating supply has remained below $10 billion. DAI's ability to maintain its dollar peg during turbulent market conditions when other stablecoins fail has increased trust in the MakerDAO ecosystem. To ensure security, MakerDAO has implemented various measures for DAI, including support for staked ether as collateral and layer-2 contracts. These measures solidify DAI's reputation as a reliable and secure stablecoin.
Dai (DAI) Crypto Overview
Due to its stability and lack of reliance on a central authority, DAI has become the preferred choice for integrating decentralised applications (dApps). It's a trustless and decentralised stablecoin that maintains its value through the Maker Protocol, MKR token, CDP smart contracts, and other stabilisation mechanisms. Unlike fiat-collateralised stablecoins like Tether (USDT), DAI is based on the Ethereum blockchain, ensuring immunity to censorship or shutdowns. DAI is widely supported by numerous dApps and wallets, solidifying its position as a highly utilised stablecoin.
Dai White paper
MakerDAO published its initial formal white paper in December 2017. The white paper introduced the DAI Stablecoin System, enabling individuals to create DAI by utilising Ethereum as collateral through specialised smart contracts called Collateralised Debt Positions (CDPs). This paved the way for the Single-Collateral DAI (SCD) launch, also called SAI, in December 2017.
DAI Features
DAI is an innovative project with solid foundations. Here are some key DAI features:
- Security. The DAI ecosystem prioritises security, offering two-factor authentication, a secure integrated wallet, and regular audits. Users can confidently leverage the platform's benefits without worrying about the safety of their assets.
- Decentralisation. DAI's design embraces decentralisation, providing investors with unrestricted and unlimited access to funds. The permissionless system's transparency eliminates the need for approvals, intermediaries, or credit checks from third parties.
- Passive Income Opportunities. DAI offers a unique programme called DAI Savings Rate (DSR), allowing users to generate interest income from idle DAI coins. By depositing tokens into a smart contract, DAI owners can earn passive income with interest automatically added to their accounts. This investment is secure, flexible, and has no minimum deposit requirements, allowing users to easily withdraw their earnings at any time.
Dai (DAI) Crypto Benefits
Dai (DAI) crypto offers several advantages:
- DAI maintains a 1:1 value with the US Dollar, providing stability.
- Its decentralised nature ensures that no centralised authority can shut down.
- No single entity has control over DAI, enhancing its resilience.
- Similar to other cryptocurrencies, DAI enables peer-to-peer transactions without intermediaries.
- It brings trustless stability to the volatile crypto ecosystem.
- DAI can be sent and received globally using Ethereum blockchain-compatible wallets.
- It's easy to use on various blockchain platforms.
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DAI Crypto Price Analysis
At the time of writing this DAI crypto price prediction on 29 November 2023, the stablecoin's price was $0.999736, with a daily trading volume of $260,217,069. The coin ranked #17 on CoinMarketCap, with a market cap of $5,346,478,225, a circulating supply of 5,347,888,596 DAI coins, and a total supply of 5,347,888,596 DAI.
Dai (DAI) crypto pricestatistics (as of 28/11/23)
Current price | $0.999736 |
Market cap | $5,346,478,225 |
Circulating supply | 5,347,888,596 DAI |
Total supply | 5,347,888,596 DAI |
Daily trading volume | $260,217,069 |
All-time high | $3.67 (16/11/21) |
All-time low | $0.897 (11/03/23) |
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DAI (Dai) crypto price history
The DAI crypto price history generally remains stable around $1, but there have been notable instances of divergence. On 16 November 2021, it reached a high of $3.67; on 11 March 2023, it dropped to its all-time low of $0.897. However, after reaching these extreme points, DAI quickly returned to its usual equilibrium.
DAI/USDT price chart
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Dai (DAI) crypto technical analysis
Based on data from 29 November 2023, the overall sentiment for Dai crypto price prediction is bearish. The classical pivot point (P1) value is $0.995645, indicating that Dai has support levels at $0.992175 and $0.987489, and the strongest support is at $0.984019. Similarly, the resistance levels for Dai are at $1.000331, $1.003801, and $1.008486.
DAI crypto price prediction for 2023
The forecast predicts that DAI will stay tethered to the US dollar in 2023, with a minor fluctuation of 5% based on market conditions. In 2023, the projected average price for DAI is expected to be $1.007, representing a 0.69% increase compared to the current price. The maximum anticipated price for 2023 is forecasted to reach $1.258 in December. On the other hand, the minimum expected price for 2023 is $0.949.
Is DAI crypto a good investment?
DAI, a stablecoin designed to maintain a value of $1, has become popular for its stability and decentralisation. As the crypto market grows and stabilises, DAI could be a favourable investment for those seeking a reliable digital asset.
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DAI crypto price prediction for 2024-2050
Below, we have collected Dai (DAI) crypto price predictions for 2023 and beyond, shared by several of the most popular forecast platforms.
WalletInvestor Dai (DAI) crypto price prediction for 2023, 2025, 2030, 2040 and 2050
WalletInvestor predicts the Dai crypto price will surpass $1.017 by December 2023 in their Dai price predictions for 2024. They forecast an average price of $0.99 for the stablecoin in 2024. Moving forward into 2025 and beyond, the price prediction for Dai is expected to remain close to its current value, with an average price of $1.
PricePrediction.net Dai (DAI) crypto price prediction for 2023, 2025, 2030
According to PricePrediction.net, the anticipated Dai crypto price is $1.899912 by the end of 2023. PricePrediction.net also predicts that the price will continue to grow, reaching approximately $1.429933 by the end of 2024. PricePrediction.net expresses the expectation that the price of Dai will further increase and reach $1.229943 by 2030.
CoinCodex Dai (DAI) crypto price prediction for 2023, 2025 and 2030
According to CoinCodex's crypto price prediction for 2023 and beyond, the DAI crypto price of Multi-Collateral Dai is expected to decrease by 1.10% and reach $0.986010 by 3 December 2023. The estimated yearly low price for Dai in 2024 is $0.929072. For 2025, the projected price range is between $0.998874 and $1.004337. Looking ahead to 2030, the predicted DAI crypto price range is between $0.997410 and $1.012181.
TradingBeast Dai (DAI) crypto price prediction for 2023, 2025 and 2030
TradingBeast's future price projections for Dai are extremely pessimistic, with forecasts indicating a decline to as low as $0 by 2023 and potentially continuing until 2030.
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Dai (DAI) future forecast in general
MakerDAO aims to establish DAI as the world's first unbiased currency. A crucial step in this journey is to create a logo that is widely recognised, similar to the symbols of the dollar ($), euro (€) and pound (£).
For DAI to become the primary decentralised currency without the need for trust, it must gain widespread acceptance from millions of individuals. Achieving this goal necessitates effective branding and robust marketing and education efforts.
Although the challenges are acknowledged, it's worth noting that no other stablecoin is better positioned to accomplish this objective.
How high can Dai crypto go?
PricePrediction.net shares the most optimistic view on the Dai crypto price prediction, anticipating the stablecoin to reach $1.899912 by the end of 2023 and $1.429933 by the end of 2024. The rest of the popular forecast platforms we checked while working on this Dai (DAI) crypto price prediction agree the Dai crypto price will not change much in the future and will average $1.
Dai (DAI) crypto price prediction today
As of 29 November 2023, Dai crypto price predictions remain mostly optimistic. Some analysts anticipate the price to be around $1.008, while PricePrediction.net even suggests a potential price of $1.89 by year-end.
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