Fenbushi Capital has reported significant financial setbacks in a variety of tokens, underscoring the volatile nature of the cryptocurrency market. The firm disclosed a substantial loss amounting to $2.44 million in $SUSHI, which signals a staggering 90% decline in its value. Additionally, the firm's portfolio took a hit with a loss of $2.27 million in $COMP, reflecting an 82% decline.
Another notable loss includes $1.53 million associated with $UNI, marking a 42% decrease, and a more modest $499,000 loss in $AAVE, translating to a 15% reduction in this asset's worth. Adding to this troubling trend, just three hours before the report, Fenbushi Capital took the decisive action of selling various assets totaling $5.14 million, also incurring significant losses.
The assets that were divested included 136,094 $EIGEN valued at $514,000, alongside 146,537 $UNI which was worth $1.13 million. The firm also sold 10.17 million $SNT, netting $244,000, and divested 10,681 $COMP, realizing $509,000 from this transaction. Their sale also comprised 11,616 $AAVE amounting to $1.9 million and 344,086 $SUSHI valued at $276,000, rounded out with 219 $ETH which fetched $576,000.
These transactions highlight not only the challenges that Fenbushi Capital has faced with individual tokens but also indicate a broader strategy of reassessing their holdings in light of market conditions..