2026-01-20 01:29:03

On-Chain Analyst Ember Reveals a Major Transaction by Ethereum Treasury Company FG Nexus. Early this morning, the company sold 2,500 ETH, totaling approximately $8.04 million in transactions.

The story begins last year. FG Nexus heavily accumulated Ethereum from August to September, purchasing 50,770 ETH at an average price of $3,944, totaling $200 million. At that time, expectations for Ethereum's prospects were clearly optimistic.

However, the market did not develop as anticipated. As ETH prices continued to decline, FG Nexus had to face reality. To date, the company has sold off 13,475 ETH in batches, at an average price of only $3,089—directly losing $855 per ETH compared to the initial purchase price, with a total loss of $11.52 million.

Currently, FG Nexus still holds 37,594 ETH, valued at about $120 million. But this figure is already far below the book value expectations. The company's mNAV has fallen to 0.84, meaning its stock market value is trading at a discount to the underlying assets, and investors are experiencing significant unrealized losses.

ETH-2,25%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

9 Likes

Reward
9
5
Repost
Share

Comment

0/400

MEVSandwichMaker

· 5h ago

Oh no, I lost again. This is the price of going all in. Institutions can't escape the fate of retail investors either, hilarious. Bought at 3944, now at 3089, how painful is that... Should I keep cutting? FG's recent operation was really disappointing, should have escaped earlier. mNAV dropped to 0.84? Investors must be crying in the toilet. Still holding onto over 37k ETH, what are you gambling on, brother? Losing 11.52 million in a year, now that's real bloodshed. No wonder so many institutions got liquidated, they just can't get it right. Wait, are they still adding to their positions? Can't dare to buy more now. If I had known, I would have bottomed out with me, hehe. Why not diversify risk? Why go all in on one coin? At a discount and trapped, a classic passive reduction. Is this what they call professional institutions? I think they’re just average.

View OriginalReply0

GateUser-a5fa8bd0

· 5h ago

Oh no, this is the result of going all-in. I was so confident at first, and now I've lost over 10 million... --- Watching 500,000 ETH shrink like this is really upsetting, but I guess it's pretty normal. --- Discounted to 0.84? That's a real "blood loss," no wonder investors are collapsing. --- I shouldn't have bought so much all at once. It would have been much more comfortable to buy in batches. --- Another big player whose market face-planted, still desperately selling off. --- This mNAV has dropped to 0.84. Is anyone still buying? --- The dream of $3944 back then, now the reality is $3089. The gap is pretty big. --- That's how the crypto world works—yesterday's king, today's chives. It's so true. --- There are only 37,594 coins left. Are we waiting for a rebound or continuing to accept losses? --- Calculating the loss, it's 11.52 million. Just thinking about it hurts.

View OriginalReply0

WhaleMistaker

· 5h ago

You're selling at a loss again; this is the result of buying at a high point.

View OriginalReply0

DefiSecurityGuard

· 5h ago

yo this is actually a textbook exit strategy going wrong... $855 loss per coin? that's brutal. ⚠️ CRITICAL: classic case of bag holding gone sideways. the mNAV collapse to 0.84 screams liquidation risk incoming, ngl. seen this pattern before—fund buys high, bleeds out on the way down, then panic dumps. DYOR on institutional positions like this tbh

Reply0

YieldFarmRefugee

· 6h ago

Oh no, another tragedy of buying at a high point and getting stuck. --- FG Nexus's recent actions are truly disappointing. Bought at 3944 and now sold at 3089, do they want to keep selling? --- Anyway, I can't understand the logic behind these big investors' operations. Hoarding coins at high prices just seems like waiting for a bloodbath. --- mNAV has fallen to 0.84. How uncomfortable must the paper unrealized losses be for these people? --- It's another "full of expectations for the future" story, but now it has ended up like this. So funny. --- They sold 13,475 coins but still hold 37,594 coins. Are they planning to hold on until the bitter end or slowly exit? --- The key point is that this is just one company. How miserable must the retail investors' lock-up situation be? --- A loss of 11.52 million, which in an ordinary person's assets would be an astronomical number.

View OriginalReply0