MakerDAO's battle to keep up with DAI demand

The stablecoin market has seen tremendous growth with the total value of stablecoins increasing from $5.2 billion to $13.4 billion over the past year. This growth has primarily concentrated on centralized stablecoins, with Tether making up 85% of the market.

Among decentralized stablecoins, DAI is dominant with a total supply of 379.1 million as of today. Since July 1st, the total supply of DAI has increased from 134.7 million -- a 181.4% increase in just over a month. Similarly, the average daily transaction volume for DAI has increased to $330 million, up from less than $50 million a month ago.