01 · Market read
What is unusual across the altcoin options complex.
XRP’s 1W ATM IV fell 7.75 volatility points while TRX’s 1W ATM IV rose 2.98 volatility points, leaving a 10.73-point cross-complex dispersion.
Daily 1W ATM IV moves ranged from -7.75 points to +2.98 points. HYPE had the highest absolute 1W IV at 68.47%.
XRP had the highest 1W RR25 at +1.76 points, call-rich; HYPE had the lowest at -0.77 points, put-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 | $1.34 | 61.13% | -7.75 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +1.76 vol pts | Accepted fit · 6 expiries | 24h comparable |
| HYPE | Unavailable | $82.22 | 68.47% | -2.87 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | -0.77 vol pts | Accepted fit · 6 expiries | 24h comparable |
| AVAX | Unavailable | $7.19 | 54.25% | -3.78 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +0.89 vol pts | Accepted fit · 6 expiries | 24h comparable |
| TRX | Unavailable | $0.32 | 21.33% | +2.98 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +0.95 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 | 61.13% / -7.75 | 63.05% / -3.08 | 62.34% / -1.60 | 62.17% / -1.22 | 62.08% / -1.04 |
| HYPE | 68.47% / -2.87 | 66.96% / -0.75 | 67.49% / -0.13 | 67.62% / +0.02 | 67.68% / +0.09 |
| AVAX | 54.25% / -3.78 | 56.49% / -1.13 | 56.67% / +0.05 | 56.72% / +0.35 | 56.74% / +0.50 |
| TRX | 21.33% / +2.98 | 19.00% / +1.09 | 19.35% / +1.14 | 19.43% / +1.15 | 19.47% / +1.15 |
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
The altcoin complex’s 1W ATM IV changes spanned 10.73 volatility points, from a 7.75-point decline in XRP to a 2.98-point increase in TRX. HYPE retained the highest 1W ATM IV level, while XRP held the most call-rich 1W RR25 level. The cross-section remains the story rather than a set of separate asset moves.
At report cutoff · Levels and stored endpoint changes
What matters now
Vol: XRP 1W ATM IV 61.13% · Δ -7.75 vol pts; HYPE 1W ATM IV 68.47% · Δ -2.87 vol pts; AVAX 1W ATM IV 54.25% · Δ -3.78 vol pts; TRX 1W ATM IV 21.33% · Δ +2.98 vol pts
Skew: XRP 1W RR25 1.76 vol pts · Δ -1.19 vol pts; HYPE 1W RR25 -0.77 vol pts · Δ -1.18 vol pts; AVAX 1W RR25 0.89 vol pts · Δ -0.24 vol pts; TRX 1W RR25 0.95 vol pts · Δ -0.64 vol pts
IV change dispersion: 1W ATM IV daily-change dispersion 10.73 vol pts (TRX Δ +2.98 versus XRP Δ -7.75 vol pts)
Vol
XRP 1W ATM IV 61.13% · Δ -7.75 vol pts
HYPE 1W ATM IV 68.47% · Δ -2.87 vol pts
AVAX 1W ATM IV 54.25% · Δ -3.78 vol pts
TRX 1W ATM IV 21.33% · Δ +2.98 vol pts
Skew
XRP 1W RR25 1.76 vol pts · Δ -1.19 vol pts
HYPE 1W RR25 -0.77 vol pts · Δ -1.18 vol pts
AVAX 1W RR25 0.89 vol pts · Δ -0.24 vol pts
TRX 1W RR25 0.95 vol pts · Δ -0.64 vol pts
Wings
XRP 1W BF25 3.14 vol pts · Δ -1.41 vol pts
HYPE 1W BF25 4.17 vol pts · Δ +0.08 vol pts
AVAX 1W BF25 3.13 vol pts · Δ -0.58 vol pts
TRX 1W BF25 2.55 vol pts · Δ +0.06 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 1 Sept 2026, 22:27 UTC; HYPE 1 Sept 2026, 22:27 UTC; AVAX 1 Sept 2026, 22:27 UTC; TRX 1 Sept 2026, 22:27 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 01 Sept 2026, 22:27:00 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 01 Sept 2026, 22:27:00 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 01 Sept 2026, 22:27:00 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 01 Sept 2026, 22:27:00 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.