01 · Market read
What is unusual across the altcoin options complex.
XRP one-week ATM IV fell 6.12 volatility points, the largest absolute move across the complex, while AVAX one-week ATM IV rose 0.17 volatility points.
Daily 1W ATM IV moves ranged from -6.12 points to +0.17 points. HYPE had the highest absolute 1W IV at 67.26%.
TRX had the richest call skew at +3.01 points; AVAX had the richest put skew at +0.21 points.
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 | -2.19% | $1.34 | 58.84% | -6.12 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +2.12 vol pts | Accepted fit · 5 expiries | 24h comparable |
| HYPE | -0.73% | $81.89 | 67.26% | -3.39 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +0.69 vol pts | Accepted fit · 5 expiries | 24h comparable |
| AVAX | -1.10% | $7.16 | 53.46% | +0.17 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +0.21 vol pts | Accepted fit · 5 expiries | 24h comparable |
| TRX | 0.00% | $0.32 | 19.21% | -2.67 vol pts | Unavailable | Unavailable | Unavailable | Unavailable | +3.01 vol pts | Accepted fit · 5 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 | 58.84% / -6.12 | 59.25% / -4.46 | 59.69% / -3.00 | 59.79% / -2.64 | 59.85% / -2.45 |
| HYPE | 67.26% / -3.39 | 67.20% / -0.90 | 67.36% / -0.26 | 67.39% / -0.11 | 67.41% / -0.03 |
| AVAX | 53.46% / +0.17 | 54.31% / -1.98 | 54.37% / -1.73 | 54.38% / -1.67 | 54.38% / -1.65 |
| TRX | 19.21% / -2.67 | 19.09% / +0.01 | 18.71% / +0.92 | 18.61% / +1.16 | 18.57% / +1.29 |
05 · Catalyst check
News context unavailable.
News context unavailable because source coverage was incomplete.
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. The forward proxy is retained only as a fallback spot comparison and is not a consolidated spot index.