Singapore’s Largest Bank Is An ETH Whale Holding $647 Worth ETH

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According to the Blockchain analytics company Nansen, Singapore’s largest bank, DBS, is an ETH whale as the blockchain address supposedly owned by DBS held 173,753 ETH, worth $647 million. The address has already made $200 million from its ether holdings. The bullish news for Ethereum may give some confidence to the crypto community that the institutional demand for ETH also exists as the launch of spot ETH ETF is awaited in the United States.