01 · Market read
The day across the three live Derivasys markets.
The major-coin story was dispersion rather than a uniform repricing: SOL’s one-week ATM IV fell substantially faster than the BTC and ETH equivalents.
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 solana volatility drops fastest
Major-coin options saw a pronounced short-dated divergence: SOL one-week ATM IV fell 7.61 volatility points, versus a 1.17-point fall for ETH, creating a 6.44-point dispersion. SOL nonetheless retained the highest one-week ATM IV at 53.34%, 22.31 volatility points above BTC’s 31.03%. Ether carried the richest relative put-side volatility, with 1W RR25 at -2.00%.
2 September 2026
Solana drives major-coin divergence
Solana’s one-week implied volatility declined far faster than Bitcoin’s or Ether’s during the session.
Macro: US-Iran tensions appeared in Bitcoin market reporting during the window.
Crypto: Coinbase resolved a delay affecting Solana sends and receives.
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 2.2–3.4 times VIX, while short-window equity correlations remained low.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 36.05% | +19.71 vol pts | 2.21× | 45.46% | 7.37% | 80.9 percentile | +0.121 |
| ETH | 49.23% | +32.89 vol pts | 3.01× | 61.62% | 7.37% | 56.8 percentile | +0.033 |
| SOL | 56.03% | +39.69 vol pts | 3.43× | 72.65% | 7.37% | 52.5 percentile | +0.245 |
As of 01 Sept 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 | 31.03% / -2.33 | 34.73% / -1.08 | 37.47% / -0.74 | 39.57% / -0.46 | 42.00% / -0.01 |
| ETH | 43.30% / -1.17 | 48.92% / -0.01 | 51.05% / -0.12 | 53.59% / -0.14 | 55.83% / +0.03 |
| SOL | 53.34% / -7.61 | 53.68% / -6.50 | 53.44% / -4.60 | 53.39% / -4.11 | 53.36% / -3.87 |
05 · Constituent evidence
Audit the independently published source artifacts.
02 Sept 2026, 16:30 UTC
Read the BTC report02 Sept 2026, 16:30 UTC
Read the ETH report02 Sept 2026, 16:30 UTC
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.