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In a surprising new turn of events, Russia is now competing with the US dollar actively, challenging its dominion at the same time. The US dollar, which was once a global asset, has now been de-dollarized in Asia, with the majority of the Asian countries conducting trade in rubles with Russia. This narrative also shows how Russia has successfully been internationalizing its currency, despite the region being sanctioned heavily by the United States. Also Read: Foreign Funds Are Pouring In: The US Dollar Rate About to Boom Ruble Is Winning, US Dollar Shrinks In A New De-Dollarization Trend Source: Reuters / Dado Ruvic / Per a recent trade report by the AA news, Russia is spearheading global trade deals in rubles, making new pathways for its currency to thrive on an international level. Russia’s ruble share on foreign trade with Asian countries has now reached a staggering 50.7%, showcasing the successful deployment of the currency in cross-border trade dynamics. This development has yiel...

The de-dollarization movement has seen steady growth over the last decade. The BRICS bloc of nations (Brazil, Russia, India, China, and South Africa), along with its newer members, such as Iran and the UAE, have expressed the desire to move away from the US dollar. The USD continues to dominate global trade, but the sentiment of the dollar reigning supreme is fading. Also Read: JP Morgan CEO Warns: 50% Chance of U.S. Recession in 2025 Will Tariffs Further Push The De-Dollarization Agenda? Source: Watcher Guru Tariffs lead to an increase in trade costs. The move could lead to countries looking for an alternative to a US-based system. This aspect of tariffs may lead to more nations moving away from the US dollar. Tariffs could accelerate the de-dollarization movement. Also Read: Top 3 Cryptocurrencies To Watch This Weekend While the threat of countries moving away from the US dollar is growing, President Trump has stated that countries attempting to push the de-dollarization movement wil...

The BRICS alliance is divided on the idea of replacing the US dollar with local currencies for trade and transactions. Countries such as India, Brazil, South Africa, and the UAE are slowly going soft on the idea of de-dollarization. Trump’s recent tariffs are the cause for backtracking as high tariffs eat into the revenue sheets of their imports and exports sector. The stock market crash is also making things worse as trillions worth of funds are being erased from the markets. Also Read: BRICS: China & Brazil Officially Announce to Trade in Local Currencies Not Every Country Wants to End US Dollar Reliance Source: AFP The proposal to end the US dollar dependency now hangs on a thread as one-third of the BRICS alliance is stepping away from the idea. Only countries such as China, Russia, and Iran are aggressively pursuing the de-dollarization agenda globally. Russia and Iran are reeling under sanctions and are desperate to break free to protect their respective economies. Also Read...

BRICS member China is aggressively pushing the Chinese yuan for trade with its partner countries and not the US dollar. The Xi Jinping administration is convincing developing nations to switch to local currency payments for cross-border transactions. The move is helping them level up in the supply and demand mechanism in the global currency markets. Also Read: BRICS: US Could Toughen Sanctions on Russia’s Oil Exports Read here to know how many sectors in the US will be affected if BRICS ditches the dollar and embraces the Chinese yuan for trade. The US dollar is under pressure after pressing sanctions against Russia in 2022 for invading Ukraine. Developing nations fear sanctions could hamper their economy and are indulging in de-dollarization to safeguard their national interests. Also Read: BRICS: India Makes Huge Announcement on New Currency BRICS: Will the Chinese Yuan Beat the US Dollar? Source: kitco.com / Shutterstock The US dollar makes up 58% of all global reserves in 2022 whil...

President-elect Donald Trump is advancing to fracture and dismantle the BRICS alliance, said a political analyst from Moscow, Boris Mezhuyev. The analyst explained that the 47th President of the United States is determined to take on countries that threaten to cut ties with the US dollar. BRICS is the first in line to receive the ire of Trump after he takes oath on January 20, 2025. Also Read: 4 New Countries Show Interest To Join BRICS Alliance The BRICS alliance vowed to spread the de-dollarization agenda worldwide and Trump recently responded to the initiative. The President-elect vowed to put a 100% tariff on all goods entering the US from countries that want to end reliance on the US dollar. The move will force the bloc to use the greenback for trade and not local currencies for cross-border transactions. Also Read: Currency: US Dollar Pushes the Indian Rupee Further Down BRICS to Face the Ire of Trump, Says Political Analyst Instagram / Donald Trump Mezhuyev stressed that Trump w...

BRICS member India may consider accepting local currencies for trade and sideline the US dollar only if they are ‘non-binding’, according to sources on the condition of anonymity. The decision to accept native currencies could be taken at the upcoming summit in October in the Kazan region of Russia. India is keen on using local currencies only when they are non-binding. Also Read: Former Russian PM Talks About BRICS Currency For the uninitiated, non-binding means the rules of accepting local currencies must not be legally necessary to obey, and must come out of choice whenever required. BRICS country India does not want to end reliance on the US dollar as its economy is booming and needs the currency to survive. Also Read: BRICS: Russia To Officially Use Cryptocurrency For Trade Settlements BRICS: India Would Want the Rupee & Not the Chinese Yuan For Trade Settlements Source: Reuters / ShutterStock BRICS counterpart China has been pushing for trade settlements among member n...

Since it started in earnest late last October, the ongoing crypto market rally has seen multiple well-executed trades that led to swift and impressive rags-to-riches stories. Recent weeks, in particular, have generated multiple moves leading to savvy cryptocurrency trader s growing their investments hundreds of times over within hours, with new reports seemingly emerging every few days. The most recent of these took place on June 2 when one trader used 60 Solana (SOL) – at the time worth just under $10,000 – to purchase nearly 90 million of a fairly new cryptocurrency called HAPPY. Picks for you GME crypto on Solana soars over 300% as GameStop stock heats up 1 hour ago Orbs Liquidity Hub extends its reach to Fantom and partners...

The Solana ecosystem has been consolidating itself as a profitable environment for ‘smart trade rs’ and lucky speculators. Following this trend, a trade r invested $35,000 worth of Solana (SOL) to buy a meme coin stash now worth over $10 million . Notably, the Solana account ‘5We8d…qP5GY’ purchased 4.41 billion of a token called “cat in a dogs world” (MEW).  ‘5We8d…qP5GY’ account summary on Solana. Source: SolScan.io For that, the trader spent 178.2 SOL, worth $35,000 when Lookonchain reported the accomplishment on X (formerly Twitter). This purchase happened on March 26, at 5:23 am (UTC) and Lookonchain posted at 7:16 am (UTC). Picks for you SEC demands that Ripple pays $2 billion in damages 25 mins ago BYD crushes NEV milestone: 7 million electric vehicles produced 1 hour ago ‘Rich Dad’ R. Kiyosaki says Bitcoin might be a Ponzi scheme 2 hours ago Ambient becomes a new Pyth data provider 21 hours ago At that time, MEW was priced at $0.00...

Apparently, trading against oneself is so commonplace at Binance that the exchange is proudly announcing self-transaction prevention (STP). No, STP won’t stop Binance executives from trading against their customers, despite the general prevalence of this industry practice. Instead, Binance executives are adding this “feature” for customers to stop trading against themselves — a full six years since the founding of Binance. It appears that the practice is so rampant that rolling out the feature will take several weeks. Binance customers may continue to trade with themselves until October 26 at 16:00 EDT.  That window opportunity may be around for longer. Detailed API documentation provides computer codes for users who wish to continue trading against themselves, even after STP becomes a default setting. Trading against themselves with real money Trading against oneself might appear absurd on its face. It’s a guaranteed way to lose money on trading fees and, ...

Swiss-regulated fintech provides trading apps with powerful add-on toolkits to help traders of all styles boost their performance. The constantly growing number of crypto users, despite a year-long bear season, showed that it’s never too late to enter the crypto market. Last year began with less than 300 million active crypto users, and even though the crypto market went through impactful events such as the collapse of the FTX crypto exchange, the crypto community grew steadily, finishing the year with more than 400 million crypto users. Crypto adoption is especially strong in emerging markets, while the Middle East and North Africa (MENA) region experienced a significant uptick, according to Chainalysis’ reports.  Source: Statista The ever-growing crypto market directly translates into a more mature and challenging trading environment, where traders need a wide range of tools for heightened efficiency and confidence.  Traditional means of trading, like using crypto exchanges, can be ...