According to @OnchainDataNerd, GSR transferred 2,000 ETH (about $5.93M) to a DBS Bank address roughly one hour before the report (source: @OnchainDataNerd). According to @OnchainDataNerd, cumulative transfers over the past two days totaled 4,400 ETH (about $13.2M) to the same DBS-linked address (source: @OnchainDataNerd). According to @OnchainDataNerd, the referenced address link is https://t.co/phwblikQQ2 (source: @OnchainDataNerd). According to @OnchainDataNerd, the post does not indicate whether the ETH was sold after reaching the DBS address (source: @OnchainDataNerd).

According to @OnchainDataNerd, about 7 hours ago DBS bank received another 3,000 ETH valued at approximately $8.48 million from market maker GSR, with the referenced address shared by the source: https://t.co/phwblikQQ2. Source: @OnchainDataNerd on X (Dec 18, 2025). The use of the term “another” indicates this follows prior similar inbound transfers, and the implied transfer price is roughly $2,826 per ETH based on the stated totals (3,000 ETH and ~$8.48M). Source: @OnchainDataNerd on X (Dec 18, 2025).

According to CoinMarketCap, JPMorgan and DBS Bank are developing a blockchain framework for instant 24/7 transfers between their deposit token ecosystems across both public and permissioned networks, source: CoinMarketCap, Nov 12, 2025. MAS Project Guardian pilots involving JPMorgan and DBS have previously tested tokenized deposits, on-chain FX and atomic delivery-versus-payment across public chains such as Polygon and permissioned systems, demonstrating technical viability for real-time settlement, source: Monetary Authority of Singapore, Project Guardian updates Nov 2022 and Nov 2023. Onyx by JPMorgan reports that deposit tokens provide programmable, always-on settlement and can complement stablecoins for institutional on-chain payments, which is relevant for weekend liquidity and counterparty risk management, source: Onyx by JPMorgan, 2023 deposit token research. For traders, BIS analysis indicates that 24/7 interbank token rails can narrow spreads and deepen liquidity in tokenized markets, implying potential on-chain volume tailwinds if EVM public networks are utilized, source: Bank for International Settlements, 2023 blueprint on the future monetary system.