According to Bubblemaps, a cluster of roughly 900 near-identical wallets funded just before launch claimed about 20% of the IRYS airdrop (Bubblemaps, X, Nov 28, 2025). According to Bubblemaps, approximately $4 million of IRYS from this cluster has already been sold, indicating concentrated supply entering the market that traders should be aware of for liquidity and execution considerations (Bubblemaps, X, Nov 28, 2025). According to Bubblemaps, the timing of wallet funding and the coordinated claiming pattern are visible on-chain and were flagged as part of their analysis for market participants tracking $IRYS flows (Bubblemaps, X, Nov 28, 2025).