BITCOIN

Economics Nobel laureate Paul Krugman recently stated that Argentina might be better off adopting the euro instead of the U.S. dollar amidst the devaluation of the Argentine peso. Krugman argued that Argentina has almost twice as much trade with the European Union as it does with the U.S., stating that the euro would suit them better. Nobel Laureate Paul Krugman Talks Dollarization in Argentina American Nobel laureate Paul Krugman recently issued his opinion about the possible dollarization process that Argentina might face later this year. Krugman, who won the Nobel Prize in Economic Sciences in 2008 for his analysis of trade patterns and the location of economic activity, argued that the dollar might not be the better substitute for the Argentine peso, given the trade realities of Argentina. Answering a post where Brad Setzer — an economist who worked at the treasury department of the U.S. — compared the circumstances of the U.S., Canada, South America, and North America as “opt

A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are “unable to agree on a clear path to de-dollarization apart from increasing trade in their own currencies.” Chinese Yuan, Russian Ruble Face Challenges as U.S. Dollar Alternatives Zain Vawda, a market analyst at Dailyfx, has outlined the challenges faced by the Chinese yuan and the Russian ruble as alternatives to the U.S. dollar. The analyst described: The recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, will only add further challenges to the idea of de-dollarization. He explained that the main problem is trust, noting that “since the move away from the gold standard, the USD is seen as the most stable, trustworthy, and liquid currency globally.” The analyst opined: “Given t

A Trace Finance analyst has suggested that the BRICS nations could launch a single digital currency issued and regulated by the New Development Bank, also known as the BRICS Bank. He stressed that the U.S. is facing the biggest crisis in history. Many expect a common BRICS currency that would challenge the dominance of the U.S. dollar to be discussed at the economic bloc’s summit next week. Analyst Discusses BRICS Digital Currency Evandro Caciano, head of FX at Trace Finance, discussed the prospect of the BRICS nations launching a digital currency in an interview with CNN Brazil, published Friday. The economic bloc comprises Brazil, Russia, India, China, and South Africa. Nothing that the U.S. dollar is no longer as safe as it once was, he cautioned (translated by Google): We are in the biggest American crisis in history. It is a crisis of fundamentals, with ratings downgraded by credit agencies, putting the dollar in check. Many people expect the topic of a common BRICS currenc

Based on the most recent week-long data, non-fungible token (NFT) sales experienced a slight decline of 1.18% from the previous week. Despite a recorded $107.05 million in NFT sales, there was a noteworthy rise of 86.71% in the number of buyers. Additionally, NFT transactions increased by a significant 34.66%. Weekly Digital Collectible Sales Cool Off This week, NFT sales showed a minor dip, declining by 1.18% compared to the previous week. Out of the $107.05 million in NFT transactions, a significant 61% or $65.86 million originated from the Ethereum blockchain. Furthermore, sales of ETH-based NFTs climbed by 7.41% from the prior week. Solana trailed behind Ethereum, boasting sales of around $9.64 million, marking a 4.8% uptick. After Solana in the NFT sales race came Polygon, posting sales of $8.41 million. Mythos followed closely with $6.30 million, trailed by Immutable X at $4.55 million, BNB Chain’s $4.46 million, Bitcoin’s $2.62 million, and Flow registering $1.46 million.