The IRYS mainnet officially went live on November 25, and the market reacted fast. The coin shot up more than 99 percent on launch, jumping from a 54 million dollar market cap to over 88 million within the first 24 hours.
Trading volume was huge too, pulling in more than 65.6 million dollars with over 11,780 holders buying in. What makes this even more impressive is that there was an airdrop at launch, which normally creates a ton of sell pressure for new tokens. In this case, starting at a low market cap likely helped absorb the selling and kept momentum strong.
What Is IRYS Crypto And Is 1 Billion Possible?
Another Layer 1 backed by VCs that will disappear in a few months, right? Well, not exactly. The market is packed with new chains, so it takes a lot to stand out, but Irys actually has something interesting going on.
Irys is a blockchain protocol that combines a cheap storage layer with a native execution layer, meaning it can store and process data in the same system. It uses a multi-ledger setup that supports both temporary and permanent storage.
It also has an EVM-compatible environment called IrysVM, which lets smart contracts interact with on-chain data directly. That makes it easier for apps to store, pull, and process large amounts of data faster and cheaper than most Web2 and Web3 solutions.
(Source: CryptoRank)
The network offers scalable storage, quick access, and a flexible structure for building data-heavy on-chain services. It raised more than 18 million dollars from investors like Framework Ventures and CoinFund, and it launched on major exchanges, with Coinbase and Binance being the big ones.
Since it just went live, the price will probably stay very volatile for a while. In the end, it will take a lot of work and long-term effort from the team if Irys wants to actually stand out as a Layer 1 in a crowded market.
Spot trading for Irys (IRYS) will go live on 25 November 2025. The opening of our IRYS-USD trading pair will begin later today if liquidity conditions are met, in regions where trading is supported. pic.twitter.com/X6HoWXQUiy
— Coinbase Markets 🛡️ (@CoinbaseMarkets) November 25, 2025
DISCOVER: Best New Cryptocurrencies to Invest in 2025
Bitcoin Hyper Could Be The Next Real Winner
While projects like IRYS are exploding on launch and trying to prove themselves in a crowded Layer 1 space, some traders are shifting toward plays that already have momentum and a clear narrative. Bitcoin Hyper is one of the few that checks both boxes right now.
The project has already raised 28.4 million dollars in its presale, which is a massive achievement in a market where new coins struggle to stay relevant after launch. A lot of that interest comes from its structure as a fast Bitcoin Layer 2 built on the Solana Virtual Machine, giving users low fees and high-speed transactions while still settling back to Bitcoin for security.
The staking rewards are also a major draw. With around 41% APY, holders are getting steady returns while most of the market chops sideways. Add in the trustless bridge that lets users mint BTC one-to-one on the Layer 2, and you get a setup that actually benefits from volatility rather than getting crushed by it.
While new chains still have to prove they can survive, Bitcoin Hyper is already building and pulling in capital. That is why many traders are calling it one of the strongest ecosystem plays heading into 2025.
Visit HYPER HereDISCOVER: Best Meme Coin ICOs to Invest in 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Key Takeaways
- IRYS exploded on launch, jumping nearly 100% with strong volume and investor interest despite airdrop pressure.
- Tech looks promising, but long-term success depends on execution in a crowded Layer 1 market.
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
