'Ethereum treasury firm' FG Nexus sells an additional 2,500 ETH…mNAV falls to 0.84
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Summary
- FG Nexus said it sold an additional 2,500 ETH about four hours ago for roughly $8.04 million.
- FG Nexus accumulated 50,770 ETH at an average purchase price of $3,944, but has sold 13,475 ETH at an average price of $3,089, recording realized losses of about $11.52 million.
- FG Nexus’ remaining holdings are 37,594 ETH, and with mNAV at 0.84, its equity market capitalization is below the value of its Ethereum holdings.
Ethereum (ETH) treasury firm FG Nexus has been found to have sold additional Ethereum from its holdings.
According to EmberCN on the 20th (local time), FG Nexus said it sold 2,500 ETH about four hours ago. The sale totaled about $8.04 million.
FG Nexus accumulated a total of 50,770 ETH at an average purchase price of $3,944 in August–September last year, during a peak period for Ethereum prices, deploying about $200 million. As Ethereum prices trended lower thereafter, the company has so far sold 13,475 ETH at an average price of $3,089, recording realized losses of about $11.52 million in the process.
FG Nexus’ remaining holdings stand at 37,594 ETH, worth about $120 million at market prices. However, the company’s mNAV (market capitalization-to-net asset value ratio) is around 0.84, meaning its equity market capitalization is below the value of its Ethereum holdings.
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