Dai is a decentralized stablecoin that aims to maintain a stable value relative to the US dollar through a system of smart contracts on the Ethereum blockchain. Unlike other stablecoins that are backed directly by fiat reserves, Dai is collateralized by a diversified pool of cryptocurrency assets, allowing for transparency and decentralization. This innovative approach provides users with a reliable medium of exchange and store of value without relying on traditional banking systems.
more informationSpell is an innovative cryptocurrency designed to enhance the user experience within the decentralized finance ecosystem. By allowing users to create and manage their digital assets seamlessly, Spell aims to simplify complex DeFi interactions. With its focus on community-driven governance and accessible financial tools, Spell is positioned to capture the attention of both seasoned investors and newcomers alike.
more information
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General Information |
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Title
Dai
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Title
Spell
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Symbol
dai
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Symbol
spell
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Whitepaper
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Whitepaper
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Website
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Website
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Community
-
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Community
-
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Last Updated
2025-03-13 23:59
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Last Updated
2025-03-13 23:59
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Price Data |
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Current Price $
0.999642
$
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Current Price $
0.00057892
$
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High 24h
0.99995
$
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High 24h
0.00060047
$
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Low 24h
0.99916
$
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Low 24h
0.00056681
$
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Price Change 24h
0.00023529
$
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Price Change 24h
-1.8085229944787E-5
$
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Price Change % 24h
0.02354
%
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Price Change % 24h
-3.02931
%
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Market Data |
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Market Cap
3175256197
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Market Cap
91928599
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Total Volume
133400898
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Total Volume
14213290
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Market Cap Change 24h
-42325576.743563
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Market Cap Change 24h
-2669673.6797308
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Market Cap Change % 24h
-1.31545
%
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Market Cap Change % 24h
-2.82212
%
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Return on Investment (ROI)
-
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
3175970801.4347
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Circulating Supply
158575924050.67
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Total Supply
3175970801.4347
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Total Supply
196008739620
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Max Supply
-
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Max Supply
210000000000
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Historical Data |
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All Time High (ATH)
1.22
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All Time High (ATH)
0.03506357
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ATH Change %
-17.98973
%
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ATH Change %
-98.34853
%
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ATH Date
2020-03-13 03:02
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ATH Date
2021-11-02 08:44
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All Time Low (ATL)
0.88196
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All Time Low (ATL)
0.00029812
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ATL Change %
13.34396
%
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ATL Change %
94.23555
%
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ATL Date
2023-03-11 07:50
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ATL Date
2021-08-05 13:00
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In the volatile world of cryptocurrencies, stablecoins have carved out a niche as a reliable store of value, and Dai stands out as a significant player in this space. Unlike other cryptocurrencies that can experience wild price swings, Dai maintains a steady value, providing a level of predictability and security that's hard to come by in the crypto ecosystem.
Dai (symbol: DAI) is a decentralized stablecoin powered by the Ethereum blockchain, designed to maintain a value equivalent to one US dollar. It is a product of the MakerDAO project, utilizing smart contracts to ensure its stability. Unlike fiat-backed stablecoins, Dai does not rely on banks; instead, it uses a system of collateralized debt positions (CDPs) to balance its value. This means that users can lock up their Ethereum holdings as collateral to generate Dai, making it a truly decentralized solution.
Dai's decentralized nature is one of its greatest strengths. It offers transparency and bypasses the need for a centralized authority, which appeals to the crypto purists. Additionally, its integration into various decentralized finance (DeFi) applications makes it a versatile tool for earning, lending, and more.
However, this complexity can also be viewed as a disadvantage. For newcomers, the intricacies of interacting with CDPs and understanding the mechanics behind Dai can be daunting. Moreover, the requirement for over-collateralization—meaning you need more collateral in Ethereum than the Dai you can generate—can limit accessibility for some users.
Since its launch, Dai has remained relatively stable, rarely deviating far from its $1 peg. On March 13, 2020, Dai reached an all-time high of $1.22, a significant deviation primarily driven by the crypto market turmoil during the COVID-19 pandemic's onset. Conversely, the stablecoin hit an all-time low of $0.88196 on March 11, 2023, highlighting occasional challenges in maintaining its peg during extreme market conditions.
Despite these fluctuations, Dai has consistently rebounded to its target price, underlining its resilience and the robustness of its underlying protocol.
Looking ahead, the prospects for Dai look promising, with several factors contributing to its potential growth. The burgeoning DeFi sector, which heavily utilizes Dai, is expected to expand, driving demand. Furthermore, as more cross-chain technologies develop, Dai's integration across different blockchain ecosystems may enhance its utility and adoption.
However, Dai's future isn't without challenges. The ongoing regulatory scrutiny of stablecoins presents a potential hurdle. The growing competition from other stablecoins, particularly those backed by significant financial players, could also impact its market share.
Despite its challenges, Dai's role in the cryptocurrency sphere as a decentralized stablecoin is undeniable. It offers a compelling alternative to centralized counterparts, providing stability and security while embracing the decentralized ethos of the crypto world. As the ecosystem continues to evolve, Dai's adaptability and innovation will likely keep it at the forefront of the stablecoin revolution.
Spell (symbol: SPELL) is an intriguing cryptocurrency that has garnered attention within the decentralized finance (DeFi) sector. Built on the principles of transparency and innovation, Spell is the native token of Abracadabra Money, a lending platform that allows users to leverage their cryptocurrency holdings by minting a stablecoin called MIM (Magic Internet Money). This article delves into the historical performance of Spell, its potential advantages and disadvantages, and what the future might hold for this particular coin.
Since its inception, Spell has experienced significant price fluctuations. The coin reached its all-time high (ATH) of $0.03506357 on November 2, 2021, which marked a peak excitement period in the DeFi space. However, like many cryptocurrencies, Spell has been subject to market corrections and volatility. As of the latest update, Spell's current price is $0.00057331, representing a staggering decline of approximately 98.37% from its ATH. Despite this downturn, the token has demonstrated a strong recovery since hitting its all-time low (ATL) of $0.00029812 on August 5, 2021, showing an increase of about 92.20% since then.
Spell presents several attractive features for investors and users:
Despite its benefits, Spell also faces several challenges:
The future of Spell rests largely on the broader acceptance and evolution of DeFi protocols. If the DeFi ecosystem continues to expand, Spell could benefit significantly from increased user adoption. Furthermore, with ongoing updates and enhancements from the Abracadabra team, the token may find new utility and use cases that can bolster its market presence.
However, prospective investors should be cautious. The volatility inherent in cryptocurrencies, coupled with regulatory uncertainties, calls for due diligence and a careful assessment of market conditions. For those looking to explore the DeFi space, Spell remains a compelling option, albeit with an awareness of the risks involved.
In conclusion, Spell presents both opportunities and challenges. As the cryptocurrency landscape evolves, so too will the narrative surrounding Spell, making it essential for investors to stay informed and engaged.