IRYS is up 28%, trading at $1.30, with over $8.2 million in 24-hour volume and a total market cap of $53 million. That’s heavy turnover for a small-cap coin worth just over $50 million. It’s one of the few near the top of today’s gainers list where price action is backed by volume.
A few others on the list are up just as much, but their trading volumes are pitifully low—the price has climbed without volume following suit. With a coin like IRYS, that kind of market cap means it’s easy to get hit with slippage when buying or selling. It may look lively, but if you really place a market order, your execution price could be quite a bit worse.
It’s at the top of the leaderboard today, but whether it can still pull in over $8 million in volume tomorrow will tell us more than today’s 28% gain.
A few others on the list are up just as much, but their trading volumes are pitifully low—the price has climbed without volume following suit. With a coin like IRYS, that kind of market cap means it’s easy to get hit with slippage when buying or selling. It may look lively, but if you really place a market order, your execution price could be quite a bit worse.
It’s at the top of the leaderboard today, but whether it can still pull in over $8 million in volume tomorrow will tell us more than today’s 28% gain.