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The recently-introduced Enhanced Dai Savings Rate reversed some of the token's decline in market value.

In a significant turn of events this week, Coinbase, a leading player in the cryptocurrency trading arena, has taken a decisive step to halt trading activities involving three stablecoins within the Canadian market. The suspension, scheduled to take effect from August 31, marks a notable shift in the trading landscape for Tether (USDT), Dai (DAI), and Rai Reflex Index (RAI) tokens.

For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects.

Coinbase has declared its intention in an email to customers to suspend trading for three widely used stablecoins in Canada, which includes trading of the largest stablecoin, Tether (USDT).

Coinbase, a crypto exchange, will discontinue the trading of USDT, DAI, and RAI stablecoins for its Canadian users from September 2023

The exchange expanded its services in Canada earlier this week.

Coinbase is discontinuing its support for Tether (USDT), DAI, and RAI for its Canadian users, effective August 31. The news was first reported by Cointelegraph, citing a customer email it had reviewed dated Aug. 17.

The Spark protocol just reached its debt ceiling as per MakerDAO's latest announcement. The announcement came just 8 days after increasing the debt ceiling.

Maker Protocol just hitted a revenue hight of $165 million and its stablecoin DAI has a market capitalizarion of over $5.57 billion. Here's what is happening.

According to data from Makerburn.com, the supply of DAI stablecoin has risen to its highest level in five months, reaching 5.36 billion.

In the rapidly evolving world of decentralized finance (DeFi), MakerDAO's decentralized stablecoin, DAI, has taken the spotlight with a remarkable surge in its market capitalization. In just seven days, DAI's market cap soared by nearly $1 billion, a surge attributed to a strategic move by MakerDAO to enhance its interest rate strategy.

In the fast-paced world of cryptocurrencies, MakerDAO's decentralized stablecoin DAI has recently captured significant attention due to its remarkable surge in market capitalization. Within the span of just seven days, DAI's market cap surged by nearly $1 billion, a testament to the DeFi protocol's strategic moves to enhance its interest rate structure, aimed at attracting a larger user base and fostering broader adoption.

By effectively controlling the supply and demand dynamics of stablecoin DAI, MakerDAO has attracted users back towards its fold.

The market cap of MakerDAO decentralized stablecoin DAI has increased by almost $1 billion in the last seven days after the DeFi protocol introduced an increased interest rate to attract more users.

The Spark protocol has been experiencing explosive growth. More importantly, over 198 million DAI was borrowed on the protocol since its launch in May.

Justin Sun's recent deposit of $50M in DAI has garnered interest in the crypto community. Sun's two addresses have mortgaged over $400M to mint DAI and deposit in DSR.

Amidst soaring DAI supply and promising revenue, MakerDAO's MKR navigates challenges with declining network growth and falling velocity.

Justin Sun exchanged 90254 wstETH for 77.8 million DAI and deposited it into Maker for 8% APY. DAI deposit exceeded $1 billion.

Key Points: The founder of MakerDAO has put forth a significant proposal aimed at altering the Enhanced Dai Savings Rate. The proposal would see a reduction in the rate from the current 8% to a new rate of 5%, signaling a potentially impactful shift in the dynamics of the platform.

A closely followed analyst believes that the native token of the crypto project co-created by ChatGPT founder Sam Altman looks poised for a severe correction. Pseudonymous analyst Altcoin Sherpa tells his 196,400 X followers that he's bearish on Worldcoin (WLD), an artificial intelligence-based crypto project that uses iris-scanning technology.

DAI Savings Rate (DSR) is paying up to 8% yields in a bid to “attract more users,” MakerDAO founder Rune Christensen said in a tweet on Monday.

MakerDAO DAI‘s stablecoin supply increased by $200 million after its interest rate increased by 8% for holders depositing into the protocol. On Aug. 6, MakerDAO's founder Rune Christensen revealed that Dai Savings Rate (DSR) was paying the high yield rate for the stablecoin holders “at no additional risk.

The amount of DAI minted and deposited back into the Maker protocol has surged dramatically since the latest upgrade.

Holders of MakerDAO's decentralized stablecoin DAI can now get as much as 8% annual percentage yields. However, a decision has been made at the protocol level to block users of virtual private networks sparking uproar from privacy advocates.