FG Nexus Reduces Ethereum Holdings Amid Losses

Blockchain sleuth EmberCN posted on X that four hours ago, FG Nexus, a treasury company, reduced its Ethereum (ETH) holdings by transferring 10,000 ETH to Galaxy Digital. This transaction is valued at approximately $18.16 million. FG Nexus, associated with the token $FGNX, has incurred significant losses amounting to $888.3 million due to its investments in Ethereum. In August and September of last year, during a period of heightened interest in DAT companies, FG Nexus purchased 50,600 ETH at an average price of $3,940, totaling $2 billion. However, following a decline in Ethereum's price, the company began reducing its holdings in November. To date, FG Nexus has sold 38,300 ETH, valued at $89.17 million, at an average price of $2,329.