Blockchain Analytics Firm Nansen Uncovers DBS Bank’s Secret Ethereum Stash

Published 30/05/2024, 13:59
Blockchain Analytics Firm Nansen Uncovers DBS Bank’s Secret Ethereum Stash
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  • 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.

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