Irys Crashes 47% Two Days After Record High, Quack AI Sheds 30%

Irys (IRYS) lost 46.8% in 24 hours and fell to $0.0412 — two days after printing an all-time high of $0.2959. Across 48 hours the token shed 86% of its value, and the intraday range of $0.1282 to $0.0427 reads like a parachute that opened only after landing.

The context is almost didactic. Irys is a recently listed token with 2 billion of 10 billion units in circulation. Its all-time low of $0.01172 was set on October 18 — one week before the drama. In other words, the token rose 25-fold in seven days and gave nearly all of it back in two. Daily volume of $264.6 million against an $82.6 million market cap says this was trading, not investing: capital came in, took what it wanted and left without saying goodbye.

Quack AI: the duck that quacked too early

Quack AI (Q) dropped 30.5% to $0.0775, with $30.2 million in volume and a $364.7 million market cap. Six days ago, on October 19, the token was worth $0.2111. It is now 63% lower. In sports terms, that is a team leading 3-0 at halftime and losing 4-3 in front of a full stadium. For a project pitching itself as an AI layer for decentralized organizations, a 30% single-day slide is awkward advertising — and a reminder that tokens with a large float (4.7 billion of 10 billion) feel selling pressure the moment sentiment turns.

Akedo: down 19.9% with a $711 million valuation

Akedo (AKE) is the biggest casualty among larger names: down 19.9% to $0.0312, a $711 million market cap and rank 88 overall. Akedo hit $0.1467 on September 20, 2026 and now sits 79% below it. The day’s range of $0.0285 to $0.0400 shows selling in waves rather than one clean flush — which is usually worse, because every bounce offers hope and every new low takes it away. The irony is complete: a token whose July 2026 all-time low was $0.000174 is still 179 times higher than that floor, and yet it is one of the day’s biggest losers.

Robotics and infrastructure under pressure

Axis Robotics (AXIS) fell 11.9% to $0.2874, one day after setting an all-time high of $0.3702 on October 24. That makes it a textbook “one-day top” — the moment when everything seems possible and tomorrow reveals that everything was already sold. Volume of $84.7 million against a $47.4 million market cap confirms a speculative wave rather than institutional demand.

iExec RLC (RLC) dropped 9.8% to $0.5600, now 96.4% below its May 2021 all-time high of $15.51. Anyone who put $1,000 in then and forgot about it holds $36 today and one solid barbecue story. PHALA (PHA) sits in the same boat at -9.8% to $0.0483, AltLayer (ALT) -8.7% to $0.00674 and Bifrost (BFC) -8.8% to $0.0258.

The broader tape: nobody crashed, nobody celebrated

Bitcoin trades near $80,841, down 0.3% inside a $79,263 to $81,104 range. Ethereum is at $2,357, down 1.2%. The rest of the board is broadly even: Solana $102.29, XRP $1.30, BNB $738.91, Dogecoin $0.0776. The overall picture is red but shallow — there are no 30% or 47% declines among the mega caps.

That is the lesson of the day: the market did not fall, individual tokens did. When everything drops, it is macro. When a handful of tokens lose 20% to 50% while Bitcoin stands still, it is micro — liquidity, token unlocks and the pump that came before. Irys demonstrated it in its purest form: a 25-fold rally in a week was not the announcement of a new era, it was an invitation to exit.

Unlike the daily winners, who celebrated short bursts of demand, the losers showed the other side of the same coin. Crypto still runs on the rule of the old shipwreck: the first one into the lifeboat is not necessarily the one who can swim.

Market data

Source: CoinGecko, October 25, 2026, 00:00 UTC.