Keep up with what's happening in the crypto world in real-time.
All Filters (1)
MakerDAO Dai Savings Rate increased to 8%, TVL of DAI pool exceeds $400M as large transactions were observed, including a whale selling 5640 ETH for DAI.
MakerDAO increased its DAI savings rate from 3% to 8%, making it one of the highest rates offered by a major stablecoin issuer.
Adam Cochran, a well-known trader and technical analysis expert on Twitter, shared a tweet of an address that has been mass swapping USDT (Tether) to DAI. This address is funded by Binance and has multiple addresses that are bulk-selling USDT.
MakerDAO's proposal to increase the DAI savings rate has been approved and the interest rate will temporarily increase to 8%.
MakerDAO, the decentralized autonomous organization behind the stablecoin DAI, recently approved a proposal aimed at increasing interest rates temporarily for DAI token holders. The new mechanism, known as the Enhanced Dai Savings Rate (EDSR), seeks to offer higher yields to users, with rates reaching up to 8%.
The mastermind behind this stroke of genius, none other than the illustrious co-founder of MakerDAO, Rune Christensen, expressed the grand vision of the EDSR. This visionary mechanism ensures that Dai holders are rewarded fairly with increased returns, making it an irresistible force for adoption across the digital landscape.
The Enhanced Dai Savings Rate is based on DSR utilization, and could boost the stablecoin yield as much as 8%.
MakerDAO is considering a proposal to increase the DAI savings rate up to 8%. The DeFi lender's community has voted overwhelmingly in favor of the proposal.
The circulation of Maker's DAI stablecoin has shrunk by a third over the past year.
Aave has launched its algorithmic stablecoin, GHO, backed by multiple crypto assets, including ethereum (ETH)
Blockchain analytics platform Santiment says that deep-pocketed investors are scooping up a massive amount of one crypto asset as Bitcoin's (BTC) price hovers.
The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD's supply has dropped below the 4 billion mark as the token's number of coins in circulation has fallen 16.7% over the last month.
MakerDAO's DAI has swapped out a lot of USDC in its stablecoin reserves for U.S. Treasurys as its collateral changes shape.
MakerDAO announced on Wednesday a significant addition of $700 million in U.S. Treasury bonds to its holdings, which took its total bond holdings to $1.2 billion, a move aimed at backing DAI with real-world assets. MakerDAO is a Defi lending protocol and the company behind the DAI (CRYPTO: DAI) stablecoin.
The purchase is the latest step to increase the role of real-world assets in the platform's DAI stablecoin reserve.
A competitor of Binance USD (BUSD) has emerged as the third-largest stablecoin globally, surpassing BUSD in popularity and market value.
A rival of Binance USD (BUSD) has flipped the dollar-pegged asset to become the third-largest stablecoin in the world. New data reveals that Dai (DAI), the stablecoin issued by MakerDAO, has surpassed BUSD as Binance, the world's largest crypto exchange platform by volume, struggles with mounting legal issues and regulatory setbacks.
MakerDAO's DAI has surpassed Binance USD (BUSD) to become the third-largest stablecoin by market capitalization. With a current market valuation of approximately $4.394 billion, DAI has now taken the coveted position, while BUSD's market capitalization stands at around $4.609 billion at the time of writing.
While the move could result in higher collateral rates, it could also stimulate an increase in DAI's circulation
DAI has overtaken BUSD in market cap as Binance faces legal issues. The integration of rETH and raised debt ceiling bolstered DAI's growth and stability.
Makerdao's DAI stablecoin is now the third-largest stablecoin by market capitalization, surpassing Binance USD (BUSD), which has officially declined to $4.304 billion. DAI's market valuation on Friday, June 16, 2023, is approximately $4.394 billion, but the number of circulating DAI has decreased by 5.7% since last month.
The crypto market stabilized Friday, buoyed by news of BlackRock's entrance into the bitcoin ETF race and weakness in the US dollar.
DAI is now the third-largest stablecoin trailing behind Tether (USDT) and USDC Coin (USDC).
A $95 million burn of BUSD caused the stablecoin's market capitalization to fall below that of rival DAI.
