Irys Token Jumps Over 1,200% in 24 Hours, Surpassing May Listing Highs

IRYS price spikes beyond May peak

Irys's IRYS token rose by about 1,208% over the last 24 hours on Friday, October 23, 2026. The price of the token reached $0.2806 according to a snapshot from CoinGecko updated at 3:21 p.m. ET. This increase pushed the price well above the highest levels seen since the token was listed in May.

The surge also led to a seven-day gain of approximately 2,083%. At the new price point, the circulating market capitalization is estimated to be around $561 million. Currently, only 20% of the total supply of 10 billion IRYS tokens are in circulation, with the remaining tokens held by the team and investors.

Key numbers from the market

• The 24-hour price gain was approximately 1,208%, with a seven-day gain of about 2,083%.
• The circulating market capitalization reached roughly $561 million based on 2 billion tokens in circulation.
• Bitget reported 38.3 million USDT in trading volume for the IRYS/USDT pair over the last 24 hours.
• Upbit recorded 609.3 billion won in trading volume for its IRYS pair, leading other exchanges in dollar-converted volume.

What the official tokenomics say

Irys combines blockchain data storage with smart contract execution. The network's published tokenomics document identifies IRYS as the asset used to pay storage and execution fees, as well as for staking to validate the network. The document notes that approximately 20% of the supply was planned to be in circulation at launch, with a one-year lock on team and investor tokens.

What is confirmed

The price surge of over 1,200% in a 24-hour period is confirmed by market data from CoinGecko, Bitget, and Upbit. The circulating supply of 2 billion tokens, representing 20% of the total 10 billion supply, is also confirmed. The token currently trades well above its previous high of 0.08985 USDT recorded in May on Bitget.

Why this matters for Irys

The significant price increase demonstrates a shift in market valuation for Irys, which focuses on decentralized data storage. The fact that only 20% of the supply is currently circulating highlights the potential for future token unlocks, which could impact the token's price in the coming months. The trading activity across multiple exchanges, particularly the high volume on Upbit, indicates growing interest in the project.