Six wallets that were last active between 2011 and 2014 moved around $40 million in the cryptocurrency between Aug. 16 and Aug. 26, CoinDesk reported Sunday (Aug. 30), citing data from Galaxy Research.

One of the wallets had been inactive for 15 years, the report said, adding that these types of moves often trigger concerns that bitcoin’s earliest holders have begun to cash out.

Still, the amount of dormant bitcoin moving on-chain declined during the second quarter to its lowest level since the third quarter of 2022, CoinDesk added, citing Alex Thorn, head of firmwide research at Galaxy Digital. That company considers a coin dormant if it has been held…