01 · Market read
The day across the three live Derivasys markets.
The equal-weight major-coin ATM IV measure fell 0.69 points, dominated by SOL’s 5.10-point decline in 1W ATM IV despite firmer BTC and ETH front ends.
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
Major-coin options diverge as SOL volatility compresses
The major-coin composite masked a sharp divergence. BTC and ETH front-end implied volatility rose modestly, while SOL’s front end compressed materially and pulled the equal-weight average lower. News during the window ranged from changing rate expectations to an ETH treasury update and reported SOL supply changes. The available timed reactions are partial and observational, leaving no supported common catalyst for the cross-asset surface divergence.
31 August 2026
Major-coin surfaces diverge through session
BTC and ETH volatility rose modestly while SOL experienced substantial front-end compression.
Macro: Rate-expectations reporting was the retained macro development for major coins.
Crypto: ETH treasury and SOL supply reports added asset-specific news.
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.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | +36.73% | +22.30 vol pts | +2.55× | +45.92% | +10.58% | +74.9th | +0.104 |
| ETH | +48.81% | +34.38 vol pts | +3.38× | +60.97% | +10.58% | +46.8th | -0.007 |
| SOL | +67.60% | +53.17 vol pts | +4.68× | +69.20% | +10.58% | +45.6th | +0.183 |
As of 28 Aug 2026, 20:00 UTC. Crypto RV uses calendar days and sqrt(365); SPX RV uses US sessions and sqrt(252).
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 · Underlying reports
The full surface evidence remains asset-specific.
BTC front-end volatility rises as skew turns call-rich
BTC’s principal surface move was a 1.11-point rise in 1W ATM IV to 34.67%, with front-end IV averaging 35.01%, up 0.72 points.
Read the BTC reportETH front-end volatility firms as long end eases
ETH’s main surface development was a 0.74-point increase in 2W ATM IV to 47.90%, while the long end averaged 0.22 points lower.
Read the ETH reportSOL front-end volatility falls as skew rotates lower
SOL’s central move was a 5.10-point fall in 1W ATM IV to 66.67%, with front-end ATM IV down 4.51 points on average.
Read the SOL report06 · 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.