Deep Dive: The Reasons and Implications Behind FG Nexus' Sale of 2,500 ETH

The Background of FG Nexus' ETH Sale

According to on-chain data monitoring, several small treasury companies are facing pressure amid market volatility and have started selling their Ethereum holdings. FG Nexus is one of them.

Sale Details and Financial Impact

Four hours ago, FG Nexus sold 2,500 ETH, worth $8.04 million at current prices. This move reflects the company’s liquidity pressure.

• In August-September last year, FG Nexus acquired 50,770 ETH at an average price of $3,944, totaling $200 million.
• As ETH prices declined, FG Nexus has already sold 13,475 ETH to alleviate financial strain, yet incurred a loss of $11.52 million.
• Currently, FG Nexus still holds 37,594 ETH, worth approximately $120 million.

Market Value vs. Net Assets

At present, FG Nexus’ mNAV (Market Value to Net Asset Value ratio) stands at 0.84, indicating that its stock value has fallen below the value of its ETH holdings.

This situation raises concerns in the market about the long-term holding capacity of treasury companies and also reflects changing confidence in the Ethereum ecosystem.