IRYS mainnet successfully launched, with simultaneous opening on multiple platforms.
TL;DR
IRYS officially launched mainnet on November 25, 2025. Coinbase was the first to open trading at 00:00 UTC, followed by listings on multiple platforms including Binance Alpha, Bitget, and KuCoin. First-day trading volume reached $26M-$72M, with the price fluctuating between $0.0217 and $0.0335, and currently stable at around $0.027. On-chain activity was exceptionally high, with 20,669 transactions occurring within 48 hours, primarily driven by airdrop claims and trading demand.
Mainnet Release Details
Release Timeline
| stage | date | Detailed information |
|---|---|---|
| Testnet phase | Before November 2025 | 900 million+ transactions, 4 million wallets, 100,000 data transactions per second (TPS) |
| Airdrop Snapshot | November 11 | Testnet users and Genesis NFT holders eligibility confirmed |
| Token Economics Released | November 20-21 | White paper and PDF documents released |
| Airdrop registration closed | November 24, 12:00 SGT | Manual verification of anti-cyberattack measures |
| Mainnet officially launched | November 25 | The official website announced its launch, and the browser started running. |
| Token listing for trading | November 25 | Simultaneous launch on multiple platforms |
| Airdrop collection open | November 25th - December 25th | The allocation of 8% of the supply is carried out at claim.irys.xyz. |
IRYS officially announced on November 25th at 11:17 UTC: "Mainnet officially launched! Over two years of work. Tens of thousands of hours of effort. All for this moment." The tweet received over 155,000 views. x.com
Exchange listing status
Confirmed main platforms
| Exchange | Trading Pair | Release date (UTC) | state |
|---|---|---|---|
| Coinbase | IRYS/USD | November 25, 00:00 | Normal transaction |
| Binance Alpha | IRYS/USDT, IRYS/USDC | November 25th 11:00 | Normal transaction |
| Bitget | IRYS/USDT | November 25th 13:00 | Normal transaction |
| KuCoin | IRYS/USDT | November 25th 13:00 | Normal trading, daily trading volume ~$11M |
| MEXC | IRYS/USDT, IRYS/USDC | November 25, 11:00-11:20 | Normal transaction |
Other platforms where it will be listed include : WEEX (November 24th), BingX, BitMart, LBank, XT.COM, Hotcoin, and more than 15 other spot trading pairs. (KuCoin Tweet, MEXC Tweet)
Major platforms that are not yet online : Top platforms such as Bybit, OKX, and Hyperliquid do not currently support IRYS trading.
Current market data
- Price : ~$0.0275 USD (fluctuation range: $0.0266-$0.0277)
- Market capitalization : ~$55 million (circulating supply 2 billion / total supply 10 billion IRYS)
- 24-hour trading volume : $26M-$72M (due to high volatility associated with newly listed coins)
- Price performance : From the offering price of $0.0217 to a high of $0.0335, a 24-hour increase of +26%.
On-chain activity analysis
Trading activity
- Total number of transfers : 20,669 (all ERC-20 transfer events within 48 hours)
- Activity breakdown : 40-50% from airdrops, 40-50% from DEX trading and exchange deposits and withdrawals, and 5-10% from initial distribution.
- DEX trading volume : $25.6 million USD, primarily conducted on Uniswap V3, accounting for approximately 70% of the total volume.
Cash holdings distribution
The top ten cryptocurrency holding addresses control approximately 89% of the tracking supply, exhibiting a typical concentration of new coin issuance:
| Ranking | address | IRYS quantity | percentage | logo |
|---|---|---|---|---|
| 1 | 0x060047...66d29 | 500 million | 27.48% | Possibly for an ecological fund |
| 2 | 0x74f5aa...4bb0d | 400 million | 21.98% | Possibly for investors' wallets |
| 3 | 0xc12f1b...0fe53 | 302 million | 16.60% | Possibly allocated to the team |
| 4 | Bitget Hot Wallet | 223 million | 12.23% | Exchange Custody |
| 7 | Coinbase Hot Wallet | 15.02 million | 0.83% | Exchange Custody |
| 8 | KuCoin Hot Wallet | 8.25 million | 0.45% | Exchange Custody |
Exchanges hold approximately 13.5% of the top ten holdings, indicating a rapid inflow to support trading and listing demand.
Community reaction and market sentiment
Overall mood
Positive aspects : Technical milestones were recognized, multi-platform launches improved accessibility, and partners such as Aethir expressed their support. x.com
Point of contention : The airdrop allocation sparked discontent among some long-term contributors, particularly the top 50 users on the Kaito leaderboard, who felt the airdrop's value, earned after six months of effort, was lower than expected. x.com
Key opinion leader perspectives
| KOL | position | Main viewpoints |
|---|---|---|
| @0xALTF4 | bullish | Praise for the strict anti-Syracist mechanism, the airdrop design with no lockout period, and the focus on contributor orientation. |
| @AethirEco | positive | Celebrating the mainnet launch as a significant milestone for the AI Alliance |
| @manyaaww | cautious | It was pointed out that the TGE value of top Kaito contributors was low after months of effort. |
Official security alerts continue to be issued, warning against fake tokens and scams, and emphasizing the need to verify information through official channels. (x.com)
in conclusion
The successful launch of the IRYS mainnet marks a significant advancement in programmable data chains, providing storage and EVM execution capabilities for AI and NFT use cases. The simultaneous launch across multiple platforms (though not exactly concurrent, but staggered over several hours) demonstrates market confidence in the project. Despite controversies surrounding the airdrop distribution, overall technical execution and market acceptance have been positive. Future focus will be on potential listings on major exchanges (Bybit, OKX, etc.) and the impact of token supply unlocking on price.