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Dollar Dominance Persists Amid Volatility, Crypto Alternatives Face Barriers
Dollar Dominance Persists Amid Volatility, Crypto Alternatives Face Barriers
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The U.S. dollar remains unchallenged as the world’s primary reserve currency, with IMF data showing its share of global reserves hovering NEAR 58% despite a gradual decline from 70% in 2000. Geopolitical efforts to promote alternatives like the yuan have failed to dent its hegemony—the greenback still facilitates 96% of trade invoicing in the Americas and 74% across Asia.
Cryptocurrencies face existential hurdles in this landscape. Market volatility and security concerns continue to undermine their viability as reserve assets. While Bitcoin and Ethereum have gained traction as speculative instruments, their adoption for cross-border trade settlement remains negligible compared to traditional mechanisms.
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