The treasury company FG Nexus, holding 120 million USD in ETH, sold 2,500 ETH

On-chain analyst Yu Jin posted on platform X that the Ethereum treasury company FG Nexus (fg-nexus) sold 2,500 ETH today, worth 8.04 million dollars, 4 hours ago.

FG Nexus accumulated 50,770 ETH at an average price of 3,944 dollars between August and September last year, totaling 200 million dollars. As the price of ETH declined, the company has since reduced its holdings by 13,475 ETH at a price of 3,089 dollars, realizing a loss of 11.52 million dollars. Currently, FG Nexus still holds 37,594 ETH, worth 120 million dollars. The company's mNAV is 0.84, and its market capitalization is below the value of the ETH it holds.