Ethereum treasury firm FG Nexus has offloaded another 7,550 ETH, worth roughly $14.06 million, according to on-chain data shared by Lookonchain. The sale adds to a steady unwind of a position that once reflected strong conviction in ether’s upside.

Between August and September 2025, FG Nexus accumulated 50,770 ETH for approximately $196 million at an average price of $3,860. On October 22, the firm announced plans to sell property assets to acquire even more ETH, reinforcing its treasury-focused strategy.

Less than a month later, the direction shifted. FG Nexus began trimming its holdings, selling 21,025 ETH at an average price near $2,649. With the latest transaction, total disposals have deepened losses as ether’s price continues to trade well below its 2025 purchase levels.

The firm now holds 30,094 ETH, valued at about $57.5 million at current prices. With ether trading around $1,964, FG Nexus is facing an estimated cumulative loss of $82.8 million.

Derivatives data showcases the pressure. Ether’s so-called “max pain” price sits near $2,200, representing roughly $886 million in notional value, with a put-to-call ratio of 0.78. That positioning suggests traders remain cautious but not outright bearish.

The broader takeaway is clear: treasury-style ETH accumulation strategies carry real balance sheet risk when volatility turns. What began as an aggressive expansion plan has shifted into capital preservation mode.

For institutional players, the episode is a reminder that crypto treasury management is not just about conviction. Timing, liquidity, and market structure matter just as much as long-term belief.

• How much Ether did FG Nexus recently sell?
  FG Nexus sold 7,550 ETH in its latest transaction, worth approximately $14.06 million based on current market prices.
• What was FG Nexus’s average Ether purchase price?
  The firm acquired 50,770 ETH in August and September 2025 at an average price of $3,860 per token.
• How large is FG Nexus’s current unrealized loss?
  With ETH trading near $1,964, the company’s total reported loss is approximately $82.8 million.
• What does Ether’s max pain price indicate?
  The $2,200 max pain level reflects the price at which the greatest number of options contracts would expire worthless, suggesting ongoing derivatives market pressure.

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