Treasury Company FG Nexus Holding $120 Million Worth of ETH Sells 2,500 ETH

Odaily News On-chain analyst Yu Jin posted on the X platform, stating that Ethereum treasury company FG Nexus (fg-nexus) sold 2,500 ETH, worth $8.04 million, 4 hours ago today. From August to September last year, FG Nexus accumulated a high-level reserve of 50,770 ETH at an average price of $3,944, valued at $200 million. As the price of ETH declined, the company has since reduced its holdings by 13,475 ETH at a price of $3,089, realizing a loss of $11.52 million. Currently, FG Nexus still holds 37,594 ETH, worth $120 million. The company's mNAV is 0.84, indicating its stock market value is lower than the value of the ETH it holds.