Irys Token Plummets 85% After Binance Alpha Debut

Irys Token Plummets 85% After Binance Alpha Debut

Coinbase confirms IRYS listing on November 25, expanding exchange availability for the token despite its sharp post-launch value drop on Binance Alpha.

Fact Check
The assessment is 'likely_true' with high confidence due to strong, corroborating evidence from multiple high-authority sources. The most significant piece of evidence is a direct confirmation from the official Binance Wallet X account, a primary source with very high authority, which states that Binance Alpha will feature Irys (IRYS) on November 25. This claim is independently supported by two separate news articles from PANews, a credible crypto-focused outlet. Another social media post from a news aggregator also reports the listing, reinforcing the core claim. A minor contradiction exists in one source which mentions the year as 2025; however, this is likely a typographical error, as it is an outlier and contradicted by the immediacy and consensus of the other high-authority sources, including the official Binance account. The least relevant source provides no specific information and does not impact the assessment. The overwhelming weight of consistent evidence from credible sources makes the statement highly probable.
Summary

Coinbase has officially announced the listing of Irys (IRYS), with IRYS/USD trading set to open on November 25 if liquidity and regional conditions are met. This follows IRYS’s debut on Binance Alpha, where it suffered an 85% price decline from $0.11 to $0.0135, slashing the value of airdropped holdings from about $132 to $16 and driving market capitalization below $30 million.

Terms & Concepts
  • Airdrop: A distribution of free cryptocurrency tokens to eligible users, often used to promote a new project or reward participation.
  • Token Listing: The process of adding a cryptocurrency to an exchange’s platform, making it available for trading.