CDS Crypto News Breaking Crypto News – Unveiling the $650 Million Ether Whale: DBS Bank’s Cryptocurrency Influence
Crypto News

Breaking Crypto News – Unveiling the $650 Million Ether Whale: DBS Bank’s Cryptocurrency Influence

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Breaking Crypto News - Unveiling the $650 Million Ether Whale: DBS Bank's Cryptocurrency Influence

Breaking Crypto News – What Are the Potential Implications of DBS Bank Being a $650 Million Ether Whale?

Breaking Crypto News – An Ether whale is DBS, the biggest bank in Singapore, according to on-chain analytics company Nansen. Presumably controlled by DBS, the blockchain address 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e had 173,753 ETH, or $647 million, earlier today. As of this writing, Ether had been traded for $3,740. According to Nansen, the address’s ether holdings have brought in over $200 million.

Breaking Crypto News - What Are the Potential Implications of DBS Bank Being a $650 Million Ether Whale?
Breaking Crypto News - Unveiling the $650 Million Ether Whale: DBS Bank's Cryptocurrency Influence 1

Investment Banks Are Turning to Ethereum

Investment banks now turn to Ethereum as their go-to platform when tokenizing capital markets over time. The bank is not new to the cryptocurrency space and provides a number of services, such as custody for digital assets, a security token trading platform, and an app for managing portfolios containing both traditional and digital assets. Hedge funds, high-frequency traders, and regular investors are becoming more interested in the cryptocurrency market, according to recent bank research.

The crypto market is eagerly awaiting the launch of spot ether exchange-traded funds in the United States, which are predicted to increase the cryptocurrency’s mainstream institutional acceptance. Nansen’s disclosure of DBS‘ ether holdings comes at the same time. Many publicly traded companies have diversified their reserves by utilizing cryptocurrencies, primarily crypto, since 2020.

FAQ

What is an Ethereum Whale?

An individual with large cryptocurrency holdings and significant market power is referred to as a whale. Whales are also individuals or entities that have a sufficient amount of cryptocurrency to be able to influence their spot price on the market.

What is a Whale Wallet?

A wallet address that has a large quantity of cryptocurrency is known as a crypto whale. Because crypto whales have the power to dramatically affect price fluctuations, the community and investors keep a close eye on them. Whales can also lead to an increase in price volatility.

For more up-to-date crypto news, you can follow Crypto Data Space.

Breaking Crypto News - Unveiling the $650 Million Ether Whale: DBS Bank's Cryptocurrency Influence
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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