Currently, DAI is the fifth-largest stablecoin by market capitalization. Tether (USDT) may have continued to be the market leader after all these years, but DAI has the advantage of being open-source and decentralized.
Tether may have continued to be the market leader after all these years, but DAI has the perk of being open-source and decentralized – something that’s sought after in the DeF community.to Makerburn, the total supply of MakerDAO’s DAI, a decentralized stablecoin, has shot up to a whopping $10 billion on February 8th. Moreover, its supply from stablecoin collateral stands at around 62%.
Over the past couple of years, DAI has found its niche as one of the most preferred stablecoins in decentralized trades. Despite Tether’s controlling a lion’s share of stablecoins in circulation and comfortably being the go-to stablecoin in dollar-based crypto trades, MakerDAO’s native stablecoin has grown multi-fold.by Coin Metrics noted that this trend has changed as figures took a beating shortly thereafter.
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