Dai (DAI) remains one of the most trusted and widely used decentralized stablecoins in the global cryptocurrency ecosystem. Pegged to the US dollar at a 1:1 ratio, DAI offers stability in an otherwise volatile market, making it a preferred choice for traders, investors, and DeFi participants in India and beyond. As of June 29, 2025, the price of Dai in Indian Rupees (INR) stands at ₹85.43, reflecting a slight dip of -0.06% over the past 24 hours.
This article provides a comprehensive overview of DAI’s current market performance, historical trends, supply dynamics, and key metrics relevant to Indian crypto users. Whether you're a beginner exploring stablecoins or an experienced trader analyzing market movements, this guide delivers accurate, up-to-date insights into Dai's role in India’s evolving digital asset landscape.
Current Market Overview
As of June 29, 2025, 11:58 PM IST, the latest data shows:
- Current Price: ₹85.43
- 24-Hour Change: -0.06%
- 24-Hour Low – High Range: ₹85.43 – ₹85.53
- Market Cap: ₹3,09,16,85,69,514
- 24-Hour Trading Volume: ₹3,92,27,89,542
Despite minor fluctuations, DAI continues to maintain strong market stability—consistent with its design as a collateral-backed, decentralized stablecoin developed by MakerDAO.
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Understanding DAI’s Stability Mechanism
Unlike centralized stablecoins that rely on corporate reserves, DAI is uniquely governed by smart contracts on the Ethereum blockchain. It is over-collateralized using various crypto assets deposited into Maker Vaults, ensuring that each DAI token remains backed by real value. This decentralization makes DAI resilient to regulatory pressures and financial institution dependencies—a key reason for its growing adoption in markets like India.
Supply Metrics and Network Health
The following metrics provide insight into DAI’s circulating supply and long-term sustainability:
- Circulating Supply: 3,61,91,77,961.82 DAI
- Total Supply: 3,61,91,77,961.82 DAI
- Max Supply: No fixed limit
- Fully Diluted Market Cap: ₹3,09,16,85,69,514
Since DAI does not have a maximum supply cap, new tokens can be minted when users lock collateral in the Maker Protocol. However, the system ensures balance through dynamic stability fees and liquidation mechanisms that protect against under-collateralization.
India has seen increasing integration of DAI in peer-to-peer transactions, cross-border remittances, and DeFi yield farming—driven by its transparency and resistance to censorship.
Historical Price Trends (June 22–29, 2025)
Recent weekly data reveals subtle shifts in DAI’s INR valuation amid broader market adjustments:
| Date | Price (INR) | Trading Volume (INR) | Market Cap (INR) |
|---|---|---|---|
| June 28 | ₹85.48 | ₹2,36,01,56,642 | ₹3,12,67,49,26,276 |
| June 27 | ₹85.51 | ₹4,26,95,10,850 | ₹3,10,16,38,00,633 |
| June 26 | ₹85.65 | ₹4,97,42,12,129 | ₹3,11,51,12,72,431 |
| June 25 | ₹86.00 | ₹4,82,37,60,626 | ₹3,13,96,00,52,885 |
| June 24 | ₹85.95 | ₹5,62,14,71,001 | ₹3,13,62,18,62,777 |
| June 23 | ₹86.35 | ₹11,83,17,61,329 | ₹3,16,42,61,60,676 |
| June 22 | ₹86.55 | ₹6,22,20,44,884 | ₹3,19,48,64,74,647 |
Over this period, DAI experienced a gradual decline from ₹86.55 to ₹85.43—a drop of approximately 1.3%—coinciding with increased volatility in global crypto markets. The highest trading volume was recorded on June 23, likely driven by arbitrage opportunities between Indian exchanges and international platforms.
Why Indian Users Are Turning to DAI
Several factors contribute to DAI’s rising popularity among Indian crypto enthusiasts:
- Decentralization: Unlike some fiat-backed stablecoins restricted in certain jurisdictions, DAI operates without central control.
- Transparency: All collateral and minting activities are visible on-chain.
- DeFi Integration: DAI is widely accepted across lending platforms like Aave and Uniswap pools.
- Hedge Against Rupee Volatility: While pegged to USD, DAI offers Indians a way to preserve purchasing power during inflationary periods.
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Moreover, with India’s regulatory framework gradually taking shape for digital assets, permissionless tokens like DAI offer a compliant alternative for those seeking financial autonomy.
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Frequently Asked Questions (FAQs)
Q: What is the current price of Dai (DAI) in Indian Rupees?
A: As of June 29, 2025, the price of Dai is ₹85.43 per token.
Q: Is Dai legal to use in India?
A: Yes. Dai is a decentralized cryptocurrency and can be used freely in India. While regulations around taxation and reporting apply to all crypto assets, there are no specific bans on DAI.
Q: How is Dai different from other stablecoins like USDT or USDC?
A: Unlike USDT or USDC—which are issued by centralized companies—Dai is created through decentralized lending protocols on Ethereum and backed by crypto collateral rather than fiat reserves.
Q: Can I buy Dai directly with Indian Rupees (INR)?
A: Yes. Several Indian cryptocurrency exchanges support direct INR-to-DAI trading pairs or allow users to convert INR to USDT first and then swap to DAI.
Q: Does Dai have a maximum supply limit?
A: No. Dai has no fixed max supply; new tokens are minted whenever users generate DAI through the Maker Protocol by locking collateral.
Q: Why did DAI's market cap decrease recently?
A: The drop in market cap reflects reduced demand or increased repayments of DAI loans in the Maker system. It doesn’t indicate instability but rather normal economic activity within the protocol.
Final Thoughts
Dai continues to stand out as a cornerstone of decentralized finance—not just globally but increasingly within India’s digital economy. Its resilience during market downturns, combined with transparent mechanics and broad utility in DeFi applications, positions it as a vital tool for financial innovation.
As awareness grows and infrastructure improves—especially around wallet support and local exchange listings—DAI is poised to play an even larger role in empowering Indian users with open access to global financial services.
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