Dai DAI

What DAI actually is on-chain

Dai is an ERC-20 deployed on Ethereum, at contract address 0x6b175474e89094c44da98b954eedeac495271d0f. That address, not the ticker DAI, is what uniquely identifies this asset: anyone can deploy a second token calling itself DAI, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, DAI is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in DAI itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

2 other assets tracked on this site also use the ticker DAI: DAI on PulseChain (PulseChain, 0x6b17…1d0f); MakerDAO Arbitrum Nova DAI Bridge (Arbitrum Nova) (another network, 0xda10…0da1). The asset on this page is specifically the Ethereum deployment at 0x6b17…1d0f. These are unrelated tokens with separate contracts, separate supply and separate price histories — a price alert set on one of them says nothing about the others, and a ticker search is not enough to tell them apart.

For DAI the project publishes a whitepaper and an active account as @SkyEcosystem. That is a partial paper trail — enough to check claims against, not enough to audit. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where DAI sits in the market

At #25, Dai sits in the top of the large-cap band, near enough to the leaders to be quoted like one of them. This close to the leaders the book behaves like a major most of the time: DAI quotes continuously on the large venues and the spread is rarely the reason a trade goes wrong. What separates it from the top ten is reflexivity — it takes the benchmark's direction and amplifies it, so drawdowns arrive faster than the rank suggests.

We are not currently receiving a live DAI order book from any of the exchanges connected to this site, so no real-time quote is shown above. That is itself information: it usually means the pair is unlisted on the venues we track, or trading has been halted. DAI is a Ethereum asset, so whatever turnover exists is most likely in Uniswap-style AMM pools rather than on a centralised book, and every fill there costs ETH in gas on top of the pool's own fee.

DAI against its all-time high

Dai's record high is $1.22, set on 2020-03-13. That high sits in a range where whole-cent and whole-unit levels are genuinely traded, which makes them usable as alert thresholds if a quote returns. It was set 7 years ago. A peak that old describes a supply structure and a holder base that have almost certainly turned over since. We are not quoting a drawdown from it because no tracked venue is giving us a live DAI price — a stale or single-pool number would make that percentage look precise when it is not.

DAI across its historical range

The recorded range is comparatively narrow: 1.38x between $0.8820 and $1.22. Either the price history is short, or the asset is designed not to move.

The record low of $0.8820 was printed on 2023-03-11 — 4 years ago. We have no live quote to measure the current distance from it.

DAI supply structure

There is no fixed maximum supply for DAI. Total supply stands at 4.40 billion DAI and essentially all of it — 100.0% — is circulating. With no locked treasury to unlock, dilution comes from protocol issuance over time rather than from a cliff on a vesting calendar, which tends to produce slow supply drift instead of discrete unlock shocks. With a supply in the billions, the quoted price is low enough that a single cent of movement is a large percentage swing; size your thresholds in percent, not in cents.

What kind of asset DAI is

Dai is pegged to the US dollar, so the only price question that matters is whether the peg holds; trend and momentum readings on a dollar peg describe noise, not direction. It is backed by on-chain collateral rather than by bank deposits, so the peg's real dependency is the collateral ratio and the liquidation engine behind it. The number to watch is not the price but the health of the collateral during a fast drawdown in the assets backing it. At a fully diluted value above a billion dollars it is large enough that its peg is defended by deep secondary liquidity, not only by the issuer's redemption promise.

CoinGecko files DAI under 6 categories, including Stablecoins, Decentralized Finance (DeFi), USD Stablecoin, Ethereum Ecosystem, Crypto-backed Stablecoin. CoinGecko also records deployments on Ethereum (3,072 tracked tokens), so its on-chain liquidity and its user base move with that network.

How to set a Dai alert that is worth receiving

Dai is the ERC-20 at 0x6b17…1d0f on Ethereum — high dated 2020-03-13 — rank #25. On this profile the condition that carries signal is a peg-deviation band of roughly ±0.5% of par, with RSI ignored entirely.

Full alert-design method: thresholds, RSI/MACD and volume conditions →