According to a ChainCatcher report, on-chain analyst Yujin posted on the X platform that Ethereum treasury firm FG Nexus (fg-nexus) sold 2,500 ETH four hours ago, worth $8.04 million. From August to September last year, FG Nexus accumulated 50,770 ETH at an average price of $3,944, valued at $200 million. As the price of ETH dropped, the company has since sold 13,475 ETH at a price of $3,089, resulting in a loss of $11.52 million. Currently, FG Nexus still holds 37,594 ETH, valued at $120 million. The company's mNAV is 0.84, meaning its stock market value is lower than the value of the ETH it holds.
FG Nexus Sells 2,500 ETH Worth $8.04M Amid ETH Price Drop
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Summary
FG Nexus sold 2,500 ETH worth $8.04 million as the price of ETH dropped. The firm had purchased 50,770 ETH at $3,944 between August and September 2023, valued at $200 million. Since then, it has sold 13,475 ETH at $3,089, incurring a $11.52 million loss. FG Nexus still holds 37,594 ETH, valued at $120 million, with an mNAV of 0.84. ETH analysis shows that its stock value remains below the value of its ETH holdings.
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