Dai (DAI) continues to hold its ground as one of the most trusted stablecoins in the Indian cryptocurrency market. As of the latest update on 17 February 2025, the price of Dai in Indian Rupees (INR) stands at ₹86.84, reflecting a modest 24-hour change of +0.25%. This stability underscores DAI’s role as a reliable digital asset pegged to the US Dollar, making it a go-to option for traders and investors seeking low-volatility exposure in the crypto space.
With increasing adoption of blockchain technology and decentralized finance (DeFi) platforms across India, understanding the current and historical performance of DAI becomes essential for both new and experienced investors.
Current Market Overview
As of 11:58 PM IST on 17 February 2025, here's a snapshot of Dai's market metrics in INR:
- Current Price: ₹86.84
- 24-Hour Price Range: ₹86.62 – ₹86.91
- 24-Hour Price Change: +₹0.2163 (+0.25%)
- Market Cap: ₹3,02,725,23,00,430
- 24-Hour Trading Volume: ₹16,47,84,60,937
- Fully Diluted Market Cap: ₹3,07,306,28,82,870
The circulating supply of DAI is currently 3,48,61,93,334.40 DAI, while the total supply stands at 3,53,89,48,946.19 DAI. Unlike Bitcoin or Litecoin, Dai does not have a fixed maximum supply—its issuance is dynamically managed through the MakerDAO protocol to maintain its 1:1 peg with the US dollar.
👉 Discover how stablecoins like DAI are reshaping digital finance in India.
Understanding Dai: A Decentralized Stablecoin
Dai (DAI) is a decentralized stablecoin built on the Ethereum blockchain and governed by the MakerDAO ecosystem. Unlike centralized stablecoins such as USDT or USDC, which rely on traditional financial reserves, Dai is backed by a diversified basket of crypto-collateralized assets locked in smart contracts.
This unique mechanism allows DAI to maintain its value without relying on a single custodian or bank account, offering transparency and censorship resistance—key features that resonate with privacy-conscious users and DeFi enthusiasts alike.
Because it’s over-collateralized and algorithmically stabilized, DAI remains resilient even during periods of high market volatility. For Indian investors navigating regulatory uncertainty around centralized exchanges and foreign-linked stablecoins, DAI offers a compliant and decentralized alternative.
Historical Price Trends (10–17 Feb 2025)
Tracking recent price movements helps identify patterns and assess market sentiment. Below is a summary of Dai’s performance over the past week:
| Date | Price (INR) | 24H Volume (INR) | Market Cap (INR) |
|---|---|---|---|
| 17 Feb 2025 | ₹86.84 | ₹16,47,84,60,937 | ₹3,02,725,23,00,430 |
| 16 Feb 2025 | ₹86.63 | ₹5,03,04,16,474 | ₹3,00,578,84,40,170 |
| 15 Feb 2025 | ₹86.63 | ₹15,27,74,40,342 | ₹3,02,821,01,97,750 |
| 14 Feb 2025 | ₹86.65 | ₹19,63,65,24,745 | ₹3,01,869,87,64,530 |
| 13 Feb 2025 | ₹86.75 | ₹20,25,65,65,340 | ₹3,01,979,11,89,580 |
| 12 Feb 2025 | ₹86.96 | ₹21,32,20,39,263 | ₹3,02,610,34,57,540 |
| 11 Feb 2025 | ₹86.78 | ₹17,40,15,81,473 | ₹3,02,506,51,58,840 |
| 10 Feb 2025 | ₹87.44 | ₹17,08,89,40,347 | ₹3,03,461,375,172 |
Over this period, DAI has shown minimal fluctuation—typical for a well-maintained stablecoin. The slight dip from ₹87.44 on 10 February to ₹86.84 on 17 February suggests minor adjustments in demand or arbitrage activity between exchanges but no systemic deviation from its USD peg.
Notably, trading volume spiked around 12–14 February, indicating heightened interest possibly linked to broader crypto market movements or DeFi yield farming opportunities.
Why Indian Investors Are Turning to Dai
India’s crypto landscape has evolved rapidly since the initial regulatory scrutiny in earlier years. With clearer tax guidelines and growing institutional interest in blockchain infrastructure, digital assets are gaining mainstream traction.
Here’s why DAI is becoming increasingly popular among Indian users:
1. Stability Amid Volatility
While Bitcoin and Ethereum experience double-digit swings, DAI maintains near-perfect stability—ideal for storing value during uncertain times.
2. Access to Global DeFi Platforms
Indian investors use DAI to participate in global decentralized applications (dApps), earn interest via lending protocols like Aave or Compound, and avoid currency conversion fees.
3. Transparency and Trust
All collateral backing DAI is verifiable on-chain. Users can audit reserves in real-time through the MakerDAO dashboard—offering unmatched transparency compared to opaque fiat-backed stablecoins.
4. Regulatory Resilience
Since DAI isn’t issued by a centralized entity tied to any specific country’s banking system, it may be less vulnerable to future regulatory crackdowns targeting traditional stablecoin issuers.
👉 Learn how to securely store and use DAI in India’s evolving crypto ecosystem.
Frequently Asked Questions (FAQ)
Q: Is Dai legal to use in India?
A: Yes. While the Indian government has not officially endorsed any cryptocurrency as legal tender, owning and trading Dai (DAI) is not prohibited. It falls under the general category of virtual digital assets (VDAs) subject to taxation under current laws.
Q: How is Dai different from other stablecoins like USDT?
A: Unlike Tether (USDT), which is backed by fiat reserves held by a centralized company, Dai is decentralized and backed entirely by crypto assets locked in smart contracts on Ethereum. This makes it more transparent and resistant to censorship.
Q: Can I buy Dai directly with INR?
A: Yes. Several Indian cryptocurrency exchanges support direct INR-to-DAI trading pairs. You can also purchase ETH or USDT first and then swap them for DAI on decentralized exchanges like Uniswap.
Q: Does Dai pay interest?
A: Not directly—but you can lend your DAI on DeFi platforms like Aave or Yearn.finance to earn yield. Interest rates vary based on supply and demand within these protocols.
Q: What determines the price of Dai in INR?
A: The INR price of DAI is derived from its USD peg (approximately $1 = ₹86.84). Exchange rates fluctuate slightly based on local trading volumes and demand across Indian crypto platforms.
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Final Thoughts
As India inches closer toward formal crypto regulations and wider financial inclusion through digital assets, stablecoins like Dai are poised to play a transformative role. Whether you're hedging against rupee depreciation, earning passive income via DeFi protocols, or simply transferring value across borders—Dai offers a secure and transparent solution.
With its consistent price around ₹86.84, strong market cap exceeding ₹3 lakh crore, and robust underlying technology powered by MakerDAO—Dai remains a cornerstone of the decentralized economy in India and beyond.
Stay informed. Stay secure. And make every digital rupee count.