01 · Market read
The day across the three live Derivasys markets.
The move was split: BTC and ETH firmed, while SOL softened. The largest one-week implied-versus-seven-day realised gap was in SOL, at -6.26 volatility points. The 1W level spread narrowed to 32.00 points.
This is a comparison, not a pooled surface: each asset keeps its own forwards, expiries, SVI fit and realised-volatility history.
02 · Macro and crypto diary
BTC front-end volatility rises as skew turns call-rich
BTC’s front end firmed into the 20:58 UTC cutoff, while the long end was largely unchanged and the curve flattened. The largest standard-tenor move was a routine 1W ATM IV increase, but 2W RR25 moved notably toward relative call-side volatility. Collected news supplied contemporaneous macro and crypto developments, yet the available reaction evidence does not establish a direct explanation for the closing repricing.
31 August 2026
BTC front end firms into cutoff
One-week ATM IV increased while two-week skew shifted toward relative call-side volatility.
Macro
Rate expectations and Iran developments were reported during the window.
Crypto
A digest also covered Solana supply and Bitcoin security developments.
Completed-session cross-asset context
Crypto volatility against VIX and SPX.
The benchmark comparison is separately timestamped to the latest completed US session; it does not replace the intraday crypto surface cutoffs above.
BTC and ETH and SOL 30-day implied volatility remained 2.5–4.7 times VIX, while short-window equity correlations remained low.
| Asset | 30d ATM IV | VIX spread | IV / VIX | Reported crypto RV | Reported SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 36.73% | +22.30 vol pts | 2.55× | 45.92% | 10.58% | percentile rank 74.9% | +0.104 |
| ETH | 48.81% | +34.38 vol pts | 3.38× | 60.97% | 10.58% | percentile rank 46.8% | -0.007 |
| SOL | 67.60% | +53.17 vol pts | 4.68× | 69.20% | 10.58% | percentile rank 45.6% | +0.183 |
BTC: RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. The displayed spread rank does not establish matched-horizon comparability.
ETH: RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. The displayed spread rank does not establish matched-horizon comparability.
SOL: RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. The displayed spread rank does not establish matched-horizon comparability.
As of 28 Aug 2026, 20:00 UTC.
03 · Cross-asset scorecard
Implied volatility, realised volatility and skew.
04 · Term structures
ATM implied volatility across common standard tenors.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ | 1Y ATM / Δ |
|---|---|---|---|---|---|
| BTC | 34.67% / +1.11 | 35.39% / +0.41 | 38.02% / +0.33 | 40.05% / +0.06 | 42.28% / +0.05 |
| ETH | 46.87% / +0.54 | 49.52% / +0.42 | 51.51% / -0.53 | 54.02% / -0.45 | 56.03% / +0.01 |
| SOL | 66.67% / -5.10 | 63.58% / -3.86 | 59.26% / -1.30 | 58.15% / -0.59 | 57.58% / -0.23 |
05 · Constituent evidence
Audit the independently published source artifacts.
31 Aug 2026, 20:58 UTC
Read the BTC report31 Aug 2026, 20:58 UTC
Read the ETH report31 Aug 2026, 20:58 UTC
Read the SOL reportEvidence, source data and methodology
Major Coins 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
BTC 1W ATM IV +1.11 points, trading -3.34 points versus seven-day realised; ETH 1W ATM IV +0.54 points, trading +1.16 points versus seven-day realised; SOL 1W ATM IV -5.10 points, trading -6.26 points versus seven-day realised. Each reading uses the same stored surface and realised-volatility evidence as its constituent report.
At report cutoff · Levels and stored endpoint changes
What matters now
Vol: BTC 1W ATM IV 34.67% · Δ +1.11 vol pts; ETH 1W ATM IV 46.87% · Δ +0.54 vol pts; SOL 1W ATM IV 66.67% · Δ -5.10 vol pts
Skew: BTC 1W RR25 1.13 vol pts · Δ +0.96 vol pts; ETH 1W RR25 1.28 vol pts · Δ +0.22 vol pts; SOL 1W RR25 1.11 vol pts · Δ -3.77 vol pts
IV level gap: 1W ATM IV level gap 32.00 vol pts (SOL 66.67% versus BTC 34.67%) · SOL minus BTC spread Δ -6.21 vol pts
Vol
BTC 1W ATM IV 34.67% · Δ +1.11 vol ptspercentile rank 43.3% by absolute move · 30-day window (n=30)
ETH 1W ATM IV 46.87% · Δ +0.54 vol pts
SOL 1W ATM IV 66.67% · Δ -5.10 vol pts
Skew
BTC 1W RR25 1.13 vol pts · Δ +0.96 vol ptspercentile rank 64.3% by absolute move · full history (n=129)
ETH 1W RR25 1.28 vol pts · Δ +0.22 vol pts
SOL 1W RR25 1.11 vol pts · Δ -3.77 vol pts
Wings
BTC 1W BF25 1.81 vol pts · Δ -0.08 vol ptspercentile rank 30.0% by absolute move · 30-day window (n=30)
ETH 1W BF25 2.36 vol pts · Δ -0.26 vol pts
SOL 1W BF25 4.59 vol pts · Δ -1.05 vol pts
IV versus RV
BTC Unavailable
ETH Unavailable
SOL Unavailable
Unavailable readings: BTC IV versus RV; ETH IV versus RV; SOL 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: BTC 31 Aug 2026, 20:58 UTC; ETH 31 Aug 2026, 20:58 UTC; SOL 31 Aug 2026, 20:58 UTC. Each asset is shown separately.
Historical move evidence
BTC 1W ATM IV: percentile rank 43.3% by absolute move · 30-day window (n=30)
BTC 1W RR25: percentile rank 64.3% by absolute move · full history (n=129)
BTC 1W BF25: percentile rank 30.0% by absolute move · 30-day window (n=30)
7D realised volatility · data quality
| Asset | Recorded RV | Status | Coverage / required | Longest gap / maximum |
|---|---|---|---|---|
| BTC | Unavailable | Unavailable | not recorded / not recorded required | not recorded / not recorded maximum |
| ETH | Unavailable | Unavailable | not recorded / not recorded required | not recorded / not recorded maximum |
| SOL | 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
BTC · 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.
ETH · 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.
SOL · 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
A derived publication with no duplicated market data.
The report is assembled at request time from the immutable BTC, ETH and SOL daily-report artifacts for the same UTC report date. It is omitted unless all three exist. Cross-asset averages are descriptive and equal-weighted; no attempt is made to combine distinct volatility surfaces into a single fit.