Bitvavo Moves $32.6 Million in Chainlink from Coinbase Prime

The Dutch cryptocurrency exchange Bitvavo has moved $32.6 million in Chainlink (LINK) tokens from Coinbase Prime, according to on-chain data.

The transfer occurred when a wallet associated with Bitvavo initiated a withdrawal of 3.89 million LINK tokens from the platform, valued at approximately $32.59 million at the time.

The receiving address was previously inactive, suggesting that it may have been set up for internal treasury management or long-term holding.

Large withdrawals like this are often seen as bullish signals by market observers, indicating an intent to hold rather than sell.