Bitcoin whale Owen Gunden, an early adopter who has held substantial amounts of the cryptocurrency since its inception, today completed a $1.3 billion sale with his final transfer to Kraken, according to Arkham Intelligence.

The transfer marks the completion of Gunden’s liquidation of his known Bitcoin wallets, which he had been emptying through large batch transfers to the exchange in recent activity tracked by the crypto community.

Gunden has been recognized as an “OG whale” in crypto communities for his significant Bitcoin holdings accumulated during the cryptocurrency’s early years. The systematic movement of his assets to Kraken reflects the broader trend of early Bitcoin holders liquidating positions after extended holding periods.

Transfers of large Bitcoin holdings to exchanges are closely monitored by market participants for their potential influence on trading conditions, as such movements typically signal selling pressure from long-term holders.