DAI Takes the Reigns as the Leading Decentralized Stablecoin by Market Capitalization – Altcoins Bitcoin News

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Following the demise of the Terra-based stablecoin UST, DAI has become the largest decentralized stablecoin in existence today.

) project and unlike an algorithmic stablecoin like UST, DAI leverages an overcollateralized loan and repayment process.

Today, DAI’s market valuation is $6.24 billion but the stablecoin’s market cap is down 27.3% over the last 30 days. Whileremained stable, Terra’s implosion sent shockwaves through the crypto community which in turn cut the TVL in defi in half. More than $2.6 billion worth of DAI was removed from circulation since May 1, 2022.

On May 28, DAI’s largest trading pair is the U.S. dollar as it captures 30.96% of all DAI trades. Other large DAI trading pairs include USDC , TUSD ,

 

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I trust only USDT.

Let's gooooo dai

USDC will probably end like UST..I mean even its own auditor is not sure about its stability

By stablekwon's hands, it did not $DAI StableCoin UST Terra luna

Any thoughts on his future development?

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As it should be

GamingShibaBSC

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