- DBS Bank, Singapore’s largest bank, has been identified as holding 173,700 ETH, worth $650 million.
- The bank has earned over $200 million from its Ethereum holdings, highlighting its significant stake in the cryptocurrency.
- Ethereum is trading at $3,743.17, with a 24-hour trading volume of $16.84 billion, despite a 1.82% decline in the last 24 hours.
Nansen, a blockchain analytics firm, has identified DBS Bank, the largest bank in Singapore, as a major holder of Ethereum. The bank’s Ethereum wallet, containing 173,700 ETH valued at approximately $650 million, has drawn considerable attention in the cryptocurrency community. This substantial investment has yielded profits exceeding $200 million, underscoring the bank’s strategic position in the crypto market.
We've identified this $650m $ETH Whale holding 173.7k ETH as DBS, the largest bank in Singapore with assets totaling S$739 billion as of 31 Dec'23This address has made over $200m by holding ETH…
Track the address on Nansen here: 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e pic.twitter.com/2rkM3cZ6gJ
— Nansen (@nansen_ai) May 30, 2024
As of December 31, 2023, DBS Bank’s total assets amounted to S$739 b…
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