01 · Market read
What is unusual across the altcoin options complex.
4 of four markets have a like-for-like 24-hour baseline. Current levels are retained for every live asset; missing changes are never treated as zero.
Daily 1W ATM IV moves ranged from -7.29 points to +0.30 points. HYPE had the highest absolute 1W IV at 71.52%.
TRX had the highest 1W RR25 at +2.95 points, call-rich; HYPE had the lowest at +0.38 points, call-rich.
This is a comparison of separate fitted surfaces, not a pooled altcoin index; unavailable history is not converted into a zero move.
03 · Altcoin scorecard
Current one-week volatility, realised value and skew.
| Asset | Spot 24h | Forward proxy | 1W ATM | 1W ATM Δ | 7d RV | 1W IV − 7d RV | IV/RV ratio | Spread percentile | 1W RR25 | Fit evidence | Status |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XRP | Unavailable | $1.39 | 70.35% | +0.30 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +2.51 vol pts | Accepted fit · 6 expiries | 24h comparable |
| HYPE | Unavailable | $84.51 | 71.52% | -4.99 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +0.38 vol pts | Accepted fit · 6 expiries | 24h comparable |
| AVAX | Unavailable | $7.21 | 57.77% | -7.29 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +1.75 vol pts | Accepted fit · 6 expiries | 24h comparable |
| TRX | Unavailable | $0.33 | 19.99% | -4.19 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +2.95 vol pts | Accepted fit · 6 expiries | 24h comparable |
04 · Term structures
ATM implied volatility across standard tenors.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ | 1Y ATM / Δ |
|---|---|---|---|---|---|
| XRP | 70.35% / +0.30 | 67.81% / +1.75 | 65.87% / +3.04 | 65.38% / +3.37 | 65.13% / +3.54 |
| HYPE | 71.52% / -4.99 | 67.64% / -3.08 | 67.21% / -1.70 | 67.11% / -1.35 | 67.06% / -1.17 |
| AVAX | 57.77% / -7.29 | 57.23% / -0.85 | 56.18% / -0.30 | 55.92% / -0.15 | 55.79% / -0.08 |
| TRX | 19.99% / -4.19 | 17.65% / -5.09 | 18.26% / -3.70 | 18.40% / -3.37 | 18.48% / -3.19 |
05 · Catalyst check
News context unavailable.
News context unavailable because source coverage was incomplete.
Evidence, source data and methodology
Altcoins report data
Download the report’s stored cross-asset comparisons, rankings, declared lead evidence and per-asset quality information. Missing analysis remains unavailable.
Original report summary
XRP forward -0.71% and one-week ATM IV +0.30 points; HYPE forward +3.31% and one-week ATM IV -4.99 points; AVAX forward -2.17% and one-week ATM IV -7.29 points; TRX forward -2.94% and one-week ATM IV -4.19 points.
At report cutoff · Levels and stored endpoint changes
What matters now
Vol: XRP 1W ATM IV 70.35% · Δ +0.30 vol pts; HYPE 1W ATM IV 71.52% · Δ -4.99 vol pts; AVAX 1W ATM IV 57.77% · Δ -7.29 vol pts; TRX 1W ATM IV 19.99% · Δ -4.19 vol pts
Skew: XRP 1W RR25 2.51 vol pts · Δ +2.60 vol pts; HYPE 1W RR25 0.38 vol pts · Δ -0.68 vol pts; AVAX 1W RR25 1.75 vol pts · Δ -0.28 vol pts; TRX 1W RR25 2.95 vol pts · Δ +3.03 vol pts
Vol
XRP 1W ATM IV 70.35% · Δ +0.30 vol pts
HYPE 1W ATM IV 71.52% · Δ -4.99 vol pts
AVAX 1W ATM IV 57.77% · Δ -7.29 vol pts
TRX 1W ATM IV 19.99% · Δ -4.19 vol pts
Skew
XRP 1W RR25 2.51 vol pts · Δ +2.60 vol pts
HYPE 1W RR25 0.38 vol pts · Δ -0.68 vol pts
AVAX 1W RR25 1.75 vol pts · Δ -0.28 vol pts
TRX 1W RR25 2.95 vol pts · Δ +3.03 vol pts
Wings
XRP 1W BF25 2.81 vol pts · Δ -1.40 vol pts
HYPE 1W BF25 4.14 vol pts · Δ +0.62 vol pts
AVAX 1W BF25 3.81 vol pts · Δ -0.28 vol pts
TRX 1W BF25 2.45 vol pts · Δ +0.67 vol pts
IV versus RV
XRP Unavailable
HYPE Unavailable
AVAX Unavailable
TRX Unavailable
Unavailable readings: XRP IV versus RV; HYPE IV versus RV; AVAX IV versus RV; TRX IV versus RV. See the report’s data availability notes.
Δ compares the report’s stored surface endpoints. IV versus RV is a level comparison, not a daily change.
Component cutoffs: XRP 31 Aug 2026, 20:58 UTC; HYPE 31 Aug 2026, 20:58 UTC; AVAX 31 Aug 2026, 20:58 UTC; TRX 31 Aug 2026, 20:58 UTC. Each asset is shown separately.
7D realised volatility · data quality
| Asset | Recorded RV | Status | Coverage / required | Longest gap / maximum |
|---|---|---|---|---|
| XRP | Unavailable | Unavailable | not recorded / not recorded required | not recorded / not recorded maximum |
| HYPE | Unavailable | Unavailable | not recorded / not recorded required | not recorded / not recorded maximum |
| AVAX | Unavailable | Unavailable | not recorded / not recorded required | not recorded / not recorded maximum |
| TRX | Unavailable | Unavailable | not recorded / not recorded required | not recorded / not recorded maximum |
Thresholds are asset-specific policies recorded in this edition. Each window is assessed independently; returns spanning gaps are excluded. Partial estimates may miss volatility during gaps.
RV coverage and methodology
XRP · Unavailable · Surface cutoff 31 Aug 2026, 20:58:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.
HYPE · Unavailable · Surface cutoff 31 Aug 2026, 20:58:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.
AVAX · Unavailable · Surface cutoff 31 Aug 2026, 20:58:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.
TRX · Unavailable · Surface cutoff 31 Aug 2026, 20:58:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.
06 · Methodology and provenance
An availability-aware daily comparison.
Latest successful snapshot at or before the common cutoff versus the nearest successful snapshot 24 hours earlier, within a three-hour tolerance.
Current levels remain visible when a 24-hour baseline does not yet exist; changes stay null rather than being inferred from a shorter window.
Realised volatility uses the canonical minute index for each asset. Spot returns and rankings use the same stored 24-hour index return; missing index returns remain unavailable. Forward levels and any legacy forward-return rankings are labelled separately.