With the U.S. nonfarm payrolls report imminent, crypto markets are showing signs of cautious trading. Implied volatility indexes suggest moderate price swings for major tokens, while XRP and Solana (SOL) may experience above-average movement.
- Bitcoin (BTC) one-day implied volatility stands at 43.8, pointing to an expected 24-hour price swing of 2.29%.
- Ether (ETH) implied volatility is 3.7%, XRP 4%, and SOL 4.86%, signaling heightened sensitivity among mid-cap coins.
Analysts note that a stronger-than-expected jobs report could weaken the case for rapid Fed rate cuts, putting pressure on risk assets.
Derivatives and Options
- Ether open interest in USDT and USD perpetual contracts dropped to 1.93M ETH, a four-week low.
- Solana perpetuals fell below 11M SOL, threatening the sustainability of a recent four-week uptrend.
- CME BTC futures remain modest, but BTC options open interest rose to 47.23K BTC ($5.21B), the highest since November, with traders buying out-of-the-money puts to hedge against a potential payroll surprise.
- BTC puts on Deribit trade at a premium to calls, highlighting downside concerns.
Memecoin Trends
After the January hype around TRUMP and MELANIA tokens faded, MemeCore, a new DeFi-focused memecoin platform, surged 261% over the past week. Most trading occurred on PancakeSwap, reflecting strong retail engagement. This renewed interest could spill over to Solana-based memecoins like Pump.fun, whose daily revenues have fallen from $15.8M in January to $1.5–$2.5M this week.
Share this content:
