Bitcoin custodied by Singapore-based DBS Digital Exchange (DDEx) grew by 30% from April 30 to June 30 this year while Ethereum under custody grew by 3% during the same period.
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- Bitcoin bought on DDEx in June was nearly four times that of April this year, while Ethereum purchased in the exchange in June was 65% higher than in April, DDEx said in a statement.
- Investors are picking up buying opportunities amid attractive valuations, with “buys” accounting for over 90% of trades on DDEx in June this year, the exchange backed by Southeast Asia’s largest lender said.
- DBS Bank-backed DDEx said its professional investor clients are parking more digital assets with its custody solution amid volatile market conditions.
- The member-only exchange said it is on track to roll out self-directed trading for accredited investors in the coming months, allowing them greater control over their digital asset portfolios.
- “What we are seeing in the digital asset industry is a great reset as the investment narrative shifts decisively away from the chase for yield,” Lionel Lim, chief executive of DBS Digital Exchange, said in a statement. “Investors today are instead seeking out safe harbors to trade and store their digital assets amid the ongoing market volatility.”
- The exchange registered a 10% growth in its customer base as of June 30 compared to April 30, the exchange said.
See related article: DBS Digital Exchange hits new high in trading value