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After a favorable period in the past months in which Shiba Inu (SHIB) has gained by more than 60%, a recent market turndown has impacted its progression, but not in a measure that should deter potential investors, according to one industry expert. The SHIB supply on cryptocurrency exchanges has recently experienced a notable decrease, reaching 7.58% on December 12. To provide context, this figure was nearly 9% in June of this year, per a post from crypto analyst Trader Kamikaze on X from December 12. “Less SHIB on exchange s generally means reduced selling pressure – setting the stage for potential gains.” Chart of decrease of SHIB supply on crypto exchanges. Source: Trader Kamikaze Reducing SHIB tokens available on trading platforms and shifting towards self-custody methods is generally considered a positive development for the meme coin’s valuation, as it removes immediate selling pressure. Contrarily, an increasing percentage of SHIB supply on exchange s may indica...

Ethereum staking withdrawals are picking momentum. But they have not been able to cause a major selloff as many had anticipated post the Shanghai upgrade. The price of Ethereum's Ether (ETH) token came just a few dollars from hitting $2,000 a day after the launch of the network's long-anticipated Shanghai upgrade. Ethereum ducks sell-the-news fears On April 13, Ether's price gained roughly 4% to reach an intraday high of $1,996 on Coinbase, ignoring the potential selloff pressure the Shanghai upgrade could potentially bring to the market. ETH/USD daily price chart. Source: TradingView To recap: the Shanghai hard fork, also known as "Shapella," enables users to withdraw their ETH from Ethereum's Proof-of-Stake smart contract. As of 09:00 UTC, April 13, over 98,000 ETH worth around $194.8 million has left Ethereum's voting balance reserves since the Shanghai launch a day ago, according to Nansen. In other words, nearly $200 million in potential selling pres...