DBS Bank Receives 4,400 ETH Worth $13.2 Million from GSR
The Data Nerd reports that Singapore’s DBS Bank has received two major Ethereum transfers from market maker GSR within 48 hours, signaling significant on-chain fund movement.
ETH
Summary
According to The Data Nerd, market maker GSR sent 2,000 ETH, valued at about $5.93 million, to DBS Bank roughly an hour ago. This follows an earlier transfer, bringing the two-day total to 4,400 ETH worth approximately $13.2 million. The transactions highlight substantial Ethereum fund flows between the crypto market maker and the Singapore-based bank.
Terms & Concepts
- ETH (Ethereum): A leading blockchain platform used for decentralized applications and smart contracts, represented by its native cryptocurrency, Ether.
- Market Maker: A firm or individual that provides liquidity to markets by actively quoting buy and sell prices.