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🎉 Gate 2025 Gala | Year-End Selection
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New fund transfer: DBS Singapore acquires more ETH from the market
Singaporean financial giant DBS Bank has made a significant move in the crypto ecosystem, capturing the attention of blockchain monitoring. According to data from The Data Nerd, the bank received a substantial amount of 3000 ETH from market maker GSR approximately 7 hours ago.
This transaction is worth nearly $8.48 million, reflecting the bank’s continued accumulation of digital assets. The current price of Ethereum is around $3.10K, highlighting the significant volume of this institutional operation.
The pattern of repeated acquisitions suggests that DBS Bank maintains a consistent strategy of exposure to Ethereum. These transactions, coordinated with GSR as an intermediary, demonstrate sustained institutional interest in consolidating positions in the leading cryptocurrency after Bitcoin.
This type of movement by established financial entities demonstrates the progressive integration of digital assets into the portfolios of traditional institutions, marking a milestone in enterprise blockchain adoption in the Singapore region.