--- title: "Why did IRYS drop 2.16% in 1 minute? Evidence check: Irys falls sharply in one minute while most other tracked coins move differently · 2026-10-24" description: "IRYS -2.16% in 1 minute on Gate · USDT, Oct 24 UTC: no news found. Irys fell in a one-minute move on Gate's IRYS/USDT market, a drop large enough to stand out from its recent behavior. The move was isolated: few other tracked coins moved the same way, and none fell further. It coincided with…" language: en canonical: "https://whycoinmoves.com/en/events/irys-move-1792854960" published: 2026-10-24T15:17:01.000Z updated: 2026-10-24T16:20:03.000Z indexable: true --- # Why did IRYS drop 2.16% in 1 minute? Evidence check: Irys falls sharply in one minute while most other tracked coins move differently · 2026-10-24 IRYS -2.16% in 1 minute on Gate · USDT, Oct 24 UTC: no news found. Irys fell in a one-minute move on Gate's IRYS/USDT market, a drop large enough to stand out from its recent behavior. The move was isolated: few other tracked coins moved the same way, and none fell further. It coincided with… Nearby report sources (context, not confirmed causes): No matching source available ## Key facts IRYS changed -2.16% in 1 minute (24/10/2026, 15:15 to 24/10/2026, 15:16, UTC; Gate · USDT). The cause remains unresolved. On the OKX perpetual swap IRYS-USDT-SWAP around the alert: funding rate +0.0079% per 4h period; liquidations $12,524 long / $399 short (UTC). These are conditions that accompanied the move, not its cause. After site detection, observed returns were 5 minutes: -0.33% (difference from BTC -0.41 pp; 24/10/2026, 15:18 → 24/10/2026, 15:23, UTC; Gate · USDT); 1 hour: -11.33% (difference from BTC -11.75 pp; 24/10/2026, 15:18 → 24/10/2026, 16:18, UTC; Gate · USDT). Unlisted windows are unavailable. ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.33% | +0.07% | -0.41 pp | 24/10/2026, 15:18 → 24/10/2026, 15:23 | Gate · USDT | | 1 hour | -11.33% | +0.42% | -11.75 pp | 24/10/2026, 15:18 → 24/10/2026, 16:18 | Gate · USDT | | 24 hours | — | — | — | — | — | ## Detected price interval | Metric | Value | | --- | --- | | Window | 1 min | | Sampled prices | 0.05655 → 0.05533 | | Return / BTC difference | -2.16% / -1.90 pp | | OKX perpetual funding rate (per period) | 0.0079% / 4h · OKX · IRYS-USDT-SWAP · sampled 24/10/2026, 15:17 (UTC) · Rate observed at collection; not annualized yield or a realized settlement. | | Observed long liquidations | $12,524 · OKX · IRYS-USDT-SWAP · sampled 24/10/2026, 15:17 (UTC) · 24/10/2026, 15:15 → 24/10/2026, 15:17 (UTC) · Returned API records cover this sampled interval; not market-wide totals. | | Observed short liquidations | $399 · OKX · IRYS-USDT-SWAP · sampled 24/10/2026, 15:17 (UTC) · 24/10/2026, 15:15 → 24/10/2026, 15:17 (UTC) · Returned API records cover this sampled interval; not market-wide totals. | | Detection threshold | 2.0576913353721755% | | Source | Gate · USDT | [Research: announcement timing and causality]() ## Historical hourly baseline | Metric | Value | | --- | --- | | Ready | false | | Coverage | 0.0% (0/720) | | Median absolute hourly return | — | | 99th percentile of absolute hourly returns | — | | BTC beta | — | | Source / cutoff (UTC) | Gate · USDT / 24/10/2026, 15:16 | ## Claims and open questions - Whether an exchange listing or notice, a project announcement, on-chain flows or broader market news explains the move ## Source evidence ## Recent IRYS events and market reactions - [Why did IRYS drop 16.21% in 60 minutes? Evidence check: Irys falls sharply in an isolated one-hour move · 2026-10-24]() — Received 24/10/2026, 10:07 (UTC) · Cause unresolved · Market watch · 5m -1.54% - [Why did IRYS go up 2.41% in 1 minute? Evidence check · 2026-10-24]() — Received 24/10/2026, 09:56 (UTC) · Cause unresolved · Market watch · 5m -0.40% / 1h -4.18% - [Why did IRYS go up 2.81% in 1 minute? Evidence check: Irys rises sharply in one-minute move while other tracked coins stay flat · 2026-10-24]() — Received 24/10/2026, 08:15 (UTC) · Cause unresolved · Market watch · 5m +1.57% / 1h -4.43% - [Why did IRYS drop 5.98% in 5 minutes? Evidence check: Irys falls sharply in five-minute move while most tracked coins hold steady · 2026-10-24]() — Received 24/10/2026, 08:04 (UTC) · Cause unresolved · Market watch · 5m -3.62% / 1h +0.36% - [Why did IRYS drop 18.19% in 60 minutes? Evidence check: Irys falls sharply in an isolated move while most tracked coins hold or rise · 2026-10-24]() — Received 24/10/2026, 03:16 (UTC) · Cause unresolved · Market watch · 5m +0.58% / 1h +1.80% - [Full coin archive]() ## Research for this archive - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() - [Do XRP and Solana ETF flows move the price? First-year data]() - [Crypto liquidity and order book depth: a historical data audit]() [Methods and limitations]() Publisher count is not independent evidence count. Price changes cannot verify news or prove causation.