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Crypto Whale Gunden Sells $290 Million Worth of BTC to Kraken!
Owen Gunden Sells 2,587.6 BTC to Kraken for $290 Million as Bitcoin Traders Build Bullish Positions.
Crypto Whale Gunden Sells $290 Million Worth of BTC to Kraken!
On October 30, 2025, former Bitcoin investor Owen Gunden made a massive sale of over 2,587.6 BTC, worth approximately $290 million, to crypto exchange Kraken. This move comes in a period of less than ten days and shows how the digital asset market is under pressure. Gunden, who began selling his Bitcoins in January 2025, is now realizing profits from his investments again.
After being ranked the third-richest crypto holder in the world in September – behind Justin Sun and Satoshi Nakamoto – Gunden appears to continue to hold a prominent position in the crypto landscape. According to Arkham data, he still holds about $785 million in Bitcoin, proving that he still owns a significant share of cryptocurrencies despite current market developments.
Market dynamics and trends
On September 23, 2025, Gunden was identified as one of the leading players in the crypto market according to his on-chain net worth, which was $1.3 billion at the time. Bitcoin price is currently at $109,428, which is below the all-time high of $126,080. This price level reflects the uncertainties and turbulence that are currently shaping the crypto market.
Despite the declines, some investors known as “whales” are showing signs of confidence. A trader with the pseudonym “0xc2a3” recently achieved a 100% win rate and is once again bullish with significant long positions on Bitcoin and Ethereum. His positions include:
| Asset | Crowd | Value (USD) |
|---|---|---|
| BTC | 1,039 | 114 million |
| SOL | 560,840 | 109 million |
| ETH | 13,419 | 52.66 million |
In the last 18 days, the trader has completed 14 trades, realizing over $16 million. This suggests a potential recovery in the market even if overall conditions remain difficult.
Additionally, Gunden has used crypto services such as BlockFi and Genesis Trading in the past, both companies have filed for bankruptcy. As a creditor in Genesis' bankruptcy proceedings, Gunden received over 600 BTC, further documenting his financial activities.
Overall, the current situation in the crypto market highlights both the challenges and opportunities that exist for long-term investors like Owen Gunden. While some players like him are adjusting their long-term strategies, it remains to be seen how the market will perform in the coming weeks. Daily Hodl reports that the market is in an exciting state with major moves expected to continue.