en.bitcoinsistemi.com
After Bitcoin (BTC), altcoins are also frequently preferred by companies within the scope of their treasury strategy.
While Ethereum ($ETH) is in first place at this point, one of these companies, FG Nexus, made a bold move.
Accordingly, Ethereum treasury company FG Nexus sold 10,922 $ETH to finance its share buyback on November 20. The company is left with 40,005 $ETH.
While this is seen as a serious move in the cryptocurrency world, they still hold a whopping 40,005 $ETH, indicating they are still holding onto Ethereum.
However, this sale by a company that is among the largest $ETH treasury companies is also seen as a sign that market weakness may force reserve companies to sell more.
Apart from FG Nexus, ETHZilla also had to sell $ETH for share buyback.
The news impacted the price of Ethereum, which fell below $3,000.
*This is not investment advice.