- DBS added 2,000 ETH (~$6.27M), bringing its total ETH holdings to 158,770 ETH worth $499M.
- BlackRock invested $138.7M into Ethereum, reinforcing confidence in long-term crypto adoption.
- ETH is testing the $2,200 support level, which could set the stage for a potential rebound toward $5,000.
One of Singapore’s largest banks, DBS, has quietly increased its digital assets portfolio after an additional 2,000 ETH, valued at approximately 6.27 million US dollars, was sent to it from Galaxy Digital seven hours ago, according to an on-chain transaction reported by The Data Nerd.
Source: Whale insider
As a result of this latest influx, DBS currently holds approximately 158,770 tokens, valued at $499 million, in addition to 7,861 BTC valued at $706.5 million. Such considerable holdings not only indicate the expansion of DBS in the crypto market but also represent how major financial institutions are increasingly handling considerable crypto holdings through transparent on-chain activity.
Also Read: Ethereum Price Outlook: Could ETH Plunge Towards $2,400 Next?
Ethereum Inflows Signals Rising Institutional Demand
The crypto analyst, Ted, revealed that the Ethereum market saw a great influx in institutional demand in the last week, with spot ETH exchange-traded funds seeing a net influx of $209.1 million. The consistent inflow of capital into the ETH-funded product shows renewed institutional interest in Ethereum, especially in light of increased on-chain activity.
Source: Ted
However, leading this net inflow, BlackRock injected $138.7 million into Ethereum, thus solidifying their prominence in encouraging institutional investment in Ethereum. Moreover, this major investment is an indication that players in traditional finance are taking early positions in Ethereum in a bid to tap into future gains when market sentiment shifts in a positive manner.
Ethereum Consolidation Signals Potential Toward $5,000
Moreover, the crypto analyst, Kamran Asghar, noted that ETH is in a critical state because market sentiment remains in a manner where a strong level of consolidation in the larger trend is preferable. Trading activity shows that a testing of the depths of a downtrend might not be complete yet, with analysts targeting a major support level in the $2,200 region.
Source: kamran Asghar
If buyers successfully defend the $2,200 area, it may set the foundation for a powerful upside reversal and renewed bullish momentum toward $5,000. Historically, similar retests have preceded strong rallies, making this zone one to watch closely. For long-term participants, this potential dip could represent a high-conviction accumulation opportunity before ETH attempts its next breakout.
Also Read: Ethereum Eyes $3550 as ETH Follows Bitcoin Momentum Across Key Levels
