This Nasdaq Firm Chasing 10% of Ethereum (ETH) Supply Now Sits on an $85M Hit
FG Nexus began buying ETH on Ethereum's 10th anniversary but soon faced one of crypto's sharpest downturns.
Bitcoin News·
FG Nexus has lost more than $85 million on its ethereum treasury strategy after buying ETH near last year’s highs and selling much of the position at lower prices. The losses highlight the pressure facing public companies that turned to ether as a reserve asset. FG Nexus’ $196M Ethereum Bet Backfires as Losses Surpass $85M […]
Read full articleFG Nexus began buying ETH on Ethereum's 10th anniversary but soon faced one of crypto's sharpest downturns.
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Ethereum has been under intense selling pressure due to losing the 100-day moving average, which was only reclaimed in April after months. The recent breakdown below a key demand zone has pushed ETH to fresh local lows near $1.75K, while both technical and on-chain indicators continue to favor the bears. Unless buyers reclaim the lost […]
FG Nexus has transferred another 10,000 Ether worth about $17.8 million, extending a series of treasury sales that have reduced its Ethereum holdings as the asset trades more than 50% below the company’s average purchase price. According to onchain data…