Crypto Custodian, Gnosis Safe Is Now The 4th Largest Ethereum Wallet Address; Adds 1.5M ETH In A Day
Gnosis Safe added over 1.5 million Ethereum tokens in a single day. The value of the ETH and ERC20 tokens stored soared to $2.3 billion, making the firm the fourth largest custodian of ETH.
In a tweet sent out on Thursday, Gnosis Safe, an Ethereum digital assets custodian, confirmed over 1,500,000 ETH (~$1.8 billion) was added to their safe on Jan 14. This brings the total amount of ETH stored on Gnosis wallets to slightly above 2% of the total supply of ETH.
Make that 2-2.5% of the ETH supply, after another 1.5 Million ETH made its way over to Gnosis Safe today! 🔥 https://t.co/WVlInZQKuT
— Gnosis Safe (@gnosisSafe) January 14, 2021
Just a day earlier, the crypto custodian announced they had reached a million ETH stored in their safe after a 600,000 ETH deposit by an unknown account. The latest transaction is also unknown but is widely speculated to institutional money – a bullish indicator for ETH price in the future ETH -1.86% Ethereum / USD ETHUSD $ 1,162.91
-$21.63-1.86% Volume 35.74 b Change -$21.63 Open $1,162.91 Circulating 114.27 m Market Cap 132.88 b
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According to Etherscan’s ‘Rich List‘ –ranking the top account addresses by value – Gnosis Safe is the fourth largest account with 2.5 million ETH held in the account or 2.18% of the total ETH supply. Only Wrapped ETH deposit contract address (4.59%), Binance ETH address (2.53%), and Ethereum 2.0 deposit contract address (2.19%) have larger amounts of ETH tokens than Gnosis Safe. Back in August of 2020, the wallet had just toppled $1 Billion AUM.
Gnosis Safe is a smart contract powered platform that provides users with a safe and secure multi-signature wallet solution to retail and institutional holders. Individual users will need to sign the transactions from multiple wallets or devices, while institutions can choose to delegate several employees to sign the transactions.
Safe replaced the Gnosis Multisig wallet in 2019, enhancing its infrastructure, security, and users’ functionality. The custodian also launched its iOS and Android mobile apps on its mainnet and Rinkeby testnet platforms.