The US dollar's position remains hard to shake: Why "de-dollarization" still struggles to gain momentum

【Crypto World】Recently, the market has experienced quite a bit of turbulence, and the voices calling for “de-dollarization” have also increased. But the reality is that the dominance of the US dollar remains solid. Analyst Jack Plandley provided a set of data — the US dollar accounts for 58% of global foreign exchange reserves, totaling over $11.5 trillion. In comparison, the euro makes up only 20%, and the Chinese yuan accounts for just 2%.

Some economies do want to shed their dependence on the dollar, but the problem is that there is currently no reliable alternative. Which currency has as deep liquidity as the dollar? Which currency can serve as the benchmark for international trade and reserves like the dollar? Not at the moment. That’s why, despite the growing discussions, the dollar’s position is unlikely to be shaken in the short term.