Whale FG Nexus Continues ETH Dumping at a Loss
On-chain analytics platform Onchain Lens reports that whale address FG Nexus has offloaded an additional 3,375 ETH, worth around $5.34 million, in what appears to be a sustained liquidation pattern. Each new sale adds to the massive realized loss the address has already accumulated.
Historical data shows FG Nexus initially purchased 50,770 ETH at a total cost of approximately $196 million. To date, the address has sold 41,675 ETH, recovering only about $94.51 million. This translates to a realized loss exceeding $86.8 million on the sold portion alone. The remaining 9,095 ETH (about 18% of the original stash) is still held, but its unrealized loss is also deep in the red given current ETH prices well below the average entry.
Such aggressive large‑scale dumping by a prominent whale exerts downward pressure on ETH in the near term, as the market digests steady supply. Traders are watching closely for signs of capitulation or a pause in sales.