Singapore’s Largest Bank Revealed as Ethereum Whale Holding $650M in ETH: Nansen

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 30 2024

OXT-2.732%

BTC+2.185%

BANK-4.673%

Should l Buy OXT?

DBS Bank Cryptocurrency Whale: Nansen, a blockchain analysis firm, identified DBS Bank as a cryptocurrency whale holding 173,753 Ether (ETH) worth $650 million.
Profit from ETH Holdings: The wallet flagged on May 30 has generated a paper profit of $200 million from its Ether holdings.
Ownership Speculation: While DBS Bank has not confirmed ownership, it is suggested that the assets may belong to its digital exchange for accredited investors.
DBS Bank's Crypto Services: DBS Bank offers various crypto services including digital asset custody, trading exchange for security tokens, and a portfolio management app integrating traditional and crypto assets.
Digital Currency Initiatives: DBS Bank has seen significant growth in its crypto sector, reporting increased Bitcoin purchases and trading volumes, engaging in government-related Web3 projects, and introducing e-CNY solutions.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like OXT with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for OXT

Technical Sentiment Analysis for Orchid (OXT) As of , Orchid (OXT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for OXT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, OXT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Orchid (OXT) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00952	0.0122	0.0153	0.018	0.0211	0.0238	0.0269
Fibonacci	0.0122	0.0144	0.0157	0.018	0.0202	0.0215	0.0238

About OXT

Orchid (OXT) is the native token of Orchid, a cryptocurrency-powered virtual private network (VPN).Launched in December 2019, Orchid describes itself as the world’s first incentivized, peer-to-peer privacy network.Its aim is to overcome internet freedom limitations by using cryptocurrency payments to allow anyone to purchase bandwidth from any participating provider. This is done using so-called probabilistic nanopayments, which occur using OXT, an ERC-20 standard token on Ethereum.Regular payments to providers occur off-chain, allowing Orchid to avoid problems with congestion and gas fees on the Ethereum network.The service is pay-per-use, meaning that users only have to contribute funds when they actually connect, instead of paying monthly or annual fees.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for OXT?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy OXT?

Get Started Free