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Daily major-coins market report · BTC, ETH and SOL

Major-coin options widen volatility gaps as Ether leads repricing

Ether led the major coins’ one-week ATM IV increase, rising 4.63 volatility points against Bitcoin’s 2.36-point gain and Solana’s 3.08-point rise. Yet Solana remained the highest-volatility major at 54.69%, compared with Bitcoin at 36.83%. The relative move widened repricing dispersion without changing the established level ranking.

Generated · By Sean Gordon / Derivasys Research

Snapshot data and comparison

Snapshot · 6 Sept 2026, 16:59 UTC

Generated timestamp:

  • BTCSpot-index 24h -0.46%1W ATM IV 36.83%1W RR25 +1.20 vol pts1W BF25 +1.82 vol pts1W IV − 7D RV Unavailable
  • ETHSpot-index 24h +0.53%1W ATM IV 46.95%1W RR25 +2.55 vol pts1W BF25 +2.99 vol pts1W IV − 7D RV Unavailable
  • SOLSpot-index 24h Unavailable1W ATM IV 54.69%1W RR25 +3.19 vol pts1W BF25 +3.81 vol pts1W IV − 7D RV Unavailable

Market context · daily observation window

Market context

ETH spot-index return unavailable; 1W ATM IV rose 4.63 volatility points to 46.95% over the daily window. RR25 moved toward calls (+1.79 points); BF25 wing premium increased (+0.63 points); 0/3 assets had lower 1W ATM IV; partial native coverage (9/12 measurements).

Previous report, watch levels and methodology

One-week surface context; the published headline retains its original evidence basis. Cutoffs 5 Sept, 16:59 UTC to 6 Sept, 16:59 UTC.

Measured change since prior report

Prior comparison unavailable: the exact adjacent published edition could not be verified.

A structured watchlist was not recorded or could not be verified in the prior edition; prior-watch outcomes remain unavailable.

Next daily cutoff: measurable checks

These checks are reconstructed from this edition’s stored endpoints; they were not recorded in the original report.

  • Hold the observed level: ETH 1W ATM IV ≥ 46.95 percent at . Current level 46.95; threshold is the current observed endpoint.
  • Full retrace: ETH 1W ATM IV ≤ 42.32 percent at . Current level 46.95; threshold is the previous observed endpoint.
Measurement basis and receipt

These are observed-level conditions for the next aligned cutoff, with no forecast or trade action. Spot uses exact index endpoints where available; ATM IV is quoted in percent and its change, RR25 and BF25 in volatility points. Derived from verified legacy artifact endpoints.

Canonical current report JSON · SHA-256 08ee35f426cd35a63b68b208166c9149349c0976e5ae2880a9e4b9eff5a37590

Consumed endpoint proof: 0765f481d9b260190f74ba103c99abc45fea0aa0e04d9bc612be00c8b93eccf4

  • ETH:atmIv:1W:observed-current-level: rows[asset=ETH].report.tenors[tenor=1W].atmIv.previous; rows[asset=ETH].report.tenors[tenor=1W].atmIv.current; rows[asset=ETH].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-09-06T16:59:00+00:00 to 2026-09-07T16:59:00+00:00.
  • ETH:atmIv:1W:observed-previous-level: rows[asset=ETH].report.tenors[tenor=1W].atmIv.previous; rows[asset=ETH].report.tenors[tenor=1W].atmIv.current; rows[asset=ETH].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-09-06T16:59:00+00:00 to 2026-09-07T16:59:00+00:00.

01 · Market read

The day across the three live Derivasys markets.

One-week ATM IV repriced most sharply in Ether, creating a 2.27-point spread over Bitcoin’s smaller increase.

Cross-sectional observations

One-week ATM IV level dispersion: Widening: absolute level gap 17.86 vol points; absolute gap change +0.72 vol points. Stored one-week tenor comparison at this cutoff across 3 assets.

Daily one-week ATM IV-change dispersion: The cross-asset spread is 2.27 vol points. Stored daily changes across 3 assets.

ETH stands apart: 1W ATM IV change is 1.55 vol points above the group median. Stored cross-section of 3 assets at this report cutoff.

This is a comparison, not a pooled surface: each asset keeps its own forwards, expiries, SVI fit and realised-volatility history.

Cross-sectional thesis

Where the complex is diverging.

One-week ATM IV level dispersion is widening, at 17.86 vol pts; daily one-week ATM IV changes span 2.27 vol pts across the complex.

BTC has the highest 1W IV-minus-7D-RV spread at +0.47 vol points; ETH has the lowest at -0.12 vol points. The range between these spreads is 0.59 vol points.

ETH

1W ATM IV change

+1.55 points from the group median

BTC

1W ATM IV level

-10.12 points from the group median

BTC

1W RR25 level

-1.35 points from the group median

Relative-value rankings

Leaders and laggards across the same cutoff.

Metric1st2nd3rd
1W ATM IV levelSOL · 54.69ETH · 46.95BTC · 36.83
Daily 1W ATM IV changeETH · 4.63SOL · 3.08BTC · 2.36
1W IV minus 7d realisedBTC · 0.47ETH · -0.12—
Highest 1W RR25SOL · 3.19ETH · 2.55 · up 1BTC · 1.20 · down 1
Lowest 1W RR25BTC · 1.20 · up 1ETH · 2.55 · down 1SOL · 3.19
24h spot performanceETH · 0.53BTC · -0.46—

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 2.5–3.5 times VIX, while short-window equity correlations remained low.

Asset30d ATM IVVIX spreadIV / VIXReported crypto RVReported SPX RVRV spread percentile30-session correlation
BTC36.20%+21.67 vol pts2.49×50.32%8.30%percentile rank 87.7%+0.158
ETH49.28%+34.75 vol pts3.39×65.32%8.30%percentile rank 60.4%+0.029
SOL50.73%+36.20 vol pts3.49×76.48%8.30%percentile rank 59.5%+0.252

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 04 Sept 2026, 20:00 UTC.

03 · Cross-asset scorecard

Implied volatility, realised volatility and skew.

AssetSpot 24h1W ATM1W ATM Δ7d RV1W IV − 7d RV1W RR251W BF25
BTC-0.46%36.83%+2.36 vol pts36.36%+0.47 vol pts+1.20 vol pts+1.82 vol pts
ETH+0.53%46.95%+4.63 vol pts47.07%-0.12 vol pts+2.55 vol pts+2.99 vol pts
SOLUnavailable54.69%+3.08 vol ptsUnavailableUnavailable+3.19 vol pts+3.81 vol pts

04 · Term structures

ATM implied volatility across common standard tenors.

Asset1W ATM / Δ1M ATM / Δ3M ATM / Δ6M ATM / Δ
BTC36.83% / +2.3637.42% / +0.5338.88% / +0.0140.13% / -0.07
ETH46.95% / +4.6350.81% / +1.3052.45% / +0.6154.25% / -0.02
SOL54.69% / +3.0852.90% / +1.2851.91% / +0.28Unavailable

05 · Constituent evidence

Audit the independently published source artifacts.

Evidence, 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.

Download report JSON · Download report CSV

Original report summary

Ether led the major coins’ one-week ATM IV increase, rising 4.63 volatility points against Bitcoin’s 2.36-point gain and Solana’s 3.08-point rise. Yet Solana remained the highest-volatility major at 54.69%, compared with Bitcoin at 36.83%. The relative move widened repricing dispersion without changing the established level ranking.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: BTC 1W ATM IV 36.83% · Δ +2.36 vol pts; ETH 1W ATM IV 46.95% · Δ +4.63 vol pts; SOL 1W ATM IV 54.69% · Δ +3.08 vol pts

Skew: BTC 1W RR25 1.20 vol pts · Δ -0.08 vol pts; ETH 1W RR25 2.55 vol pts · Δ +1.79 vol pts; SOL 1W RR25 3.19 vol pts · Δ +1.56 vol pts

IV level gap: 1W ATM IV level gap 17.86 vol pts (SOL 54.69% versus BTC 36.83%) · SOL minus BTC spread Δ +0.72 vol pts

Vol

BTC 1W ATM IV 36.83% · Δ +2.36 vol ptspercentile rank 67.4% by absolute move · full history (n=135)

ETH 1W ATM IV 46.95% · Δ +4.63 vol pts

SOL 1W ATM IV 54.69% · Δ +3.08 vol pts

Skew

BTC 1W RR25 1.20 vol pts · Δ -0.08 vol ptspercentile rank 10.0% by absolute move · 30-day window (n=30)

ETH 1W RR25 2.55 vol pts · Δ +1.79 vol pts

SOL 1W RR25 3.19 vol pts · Δ +1.56 vol pts

Wings

BTC 1W BF25 1.82 vol pts · Δ -0.04 vol ptspercentile rank 14.8% by absolute move · full history (n=135)

ETH 1W BF25 2.99 vol pts · Δ +0.63 vol pts

SOL 1W BF25 3.81 vol pts · Δ +0.12 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 6 Sept 2026, 16:59 UTC; ETH 6 Sept 2026, 16:59 UTC; SOL 6 Sept 2026, 16:59 UTC. Each asset is shown separately.

Historical move evidence

BTC 1W ATM IV: percentile rank 67.4% by absolute move · full history (n=135)

BTC 1W RR25: percentile rank 10.0% by absolute move · 30-day window (n=30)

BTC 1W BF25: percentile rank 14.8% by absolute move · full history (n=135)

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
BTCUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
ETHUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
SOLUnavailableUnavailablenot recorded / not recorded requirednot 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 06 Sept 2026, 16:59:00 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 06 Sept 2026, 16:59:00 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 06 Sept 2026, 16:59:00 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. Canonical SOL index coverage for 7d is incomplete: expected 10080 returns, found 10045 Full 7D coverage policy was not recorded.

Source data JSON

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.

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