#USChinaTradeTalks 🌏 US-China Trade Talks: What They Mean for Global Markets & Crypto 💬
The renewed US-China trade discussions could have massive implications for traditional markets — and yes, crypto too. With tariffs, tech restrictions, and supply chain pressures back on the table, investors are bracing for volatility. 📉📈
A breakdown in talks could spark global market fears, pushing capital into safe havens like gold or even Bitcoin. On the flip side, positive progress might bring short-term risk-on momentum, benefiting both equities and crypto.
Smart traders are watching macros just as closely as charts. The market doesn’t sleep, and news like this moves fast.#Write2Earn
ICX Jumps 11.73% After SODAX Rebrand and South Korea Regulatory Shift Fuel Trading Surge
ICON (ICX) has experienced a notable price increase of 11.73% in the last 24 hours, now trading at $0.1724 on Binance. This recent surge is primarily attributed to heightened accumulation on Korean exchanges following regulatory changes in South Korea, such as the Virtual Asset User Protection Act, as well as the project's major rebranding announcement to SODAX and its strategic pivot from a Layer-1 blockchain to cross-chain liquidity products. The migration of ICX tokens to the new SODA token has also contributed to increased trading activity and market interest.
Currently, ICX maintains a 24-hour trading volume of $25,419,005 and a market capitalization of $179,083,526, ranking it #240 on CoinMarketCap. The asset has shown strong upward momentum over the past week, with a 30% increase from last week's value and consistent daily gains, reflecting active market participation and positive sentiment surrounding recent developments.
UMA Token Surges 42% After Polymarket-X Partnership, Trading Volume Hits $70.7M Amid DeFi Momentum
UMAUSDT experienced a sharp 42.55% price increase over the last 24 hours, rising from 1.302 to 1.856, primarily driven by news of a major partnership between Polymarket and X (formerly Twitter). UMA, serving as the oracle provider for Polymarket, is expected to benefit from increased usage and fee generation due to X’s large user base, which has fueled significant investor interest and trading activity. The 24-hour trading volume surged to $70.7 million, with UMA’s market capitalization standing at approximately $119 million and a circulating supply of 87.5 million coins. This positive momentum follows a period of extreme volatility earlier in the week, but recent developments have positioned UMA as a notable outperformer in the DeFi sector.
Forecast for Shiba Inu (SHIB) Price This Week
Shiba Inu's (SHIB) price has been on a downward trend, despite multiple efforts to break away. In the past five weeks, sellers have dominated the market, causing the price to close in red. The current support level stands at $0.0000107, which has previously stopped sellers. A retest of this level seems probable unless the bulls regain control.
Furthermore, the weekly MACD shows a stagnant histogram, indicating no clear trend, despite the falling price. The market hopes that the current sideways price action could potentially lead to an uptick in the future. Worryingly, since March 2024, SHIB has been recording lower highs in terms of volume.
The decline shows that market participants may be shifting their focus elsewhere, making a reversal unlikely at this point.