Data: 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, 4 hours ago.

FG Nexus accumulated 50,770 ETH at an average price of $3,944 from August to September last year, totaling $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, and its market capitalization is below the value of the ETH it holds.