Nansen believes the crypto wallet already earned $200 million by holding ETH.
Update May 30, 11:30 am UTC: This article has been updated to add comments from Nansen analyst Edward Wilson.
A crypto wallet reportedly belonging to multinational banking and financial services company DBS Bank holds over 170,000 Ether, worth nearly $650 million.
On May 30, blockchain analysis firm Nansen flagged an Ethereum “whale” as the Singaporean banking institution. According to Nansen, they have identified the whale as DBS, one of the largest banks in Singapore. Nansen estimates that the crypto wallet has already made a profit of $200 million from holding Ether (ETH).
