Market Watch: WLD, MYX Spike While Gold Hits Inflation-Adjusted Peak

Altcoins Rally as Major Cryptos Recover: WLD and MYX Lead Gains

Smaller tokens are outperforming as major cryptocurrencies rebound from Friday’s declines. Bitcoin (BTC $111,067), ether (ETH), and XRP ($2.95) are all recovering steadily.

Worldcoin (WLD $1.78), founded by Sam Altman, surged 122% over the past 24 hours, while MYX Finance’s MYX token skyrocketed 270% in a single day. The broader DeFi sector is benefiting from investors seeking yield ahead of anticipated U.S. Federal Reserve rate cuts.

Gold extended its record run to $3,650 per ounce for the third consecutive day, surpassing its 1980s inflation-adjusted peak, according to Barchart.com. Pseudonymous analyst EndGame Macro noted on X: “Moves of this magnitude show declining confidence in the current monetary framework.”

Despite Friday’s payroll data raising stagflation concerns, crypto market sentiment remains stable. Bitcoin’s 30-day implied volatility (BVIV) has eased to 38% from 44% in late August, while ether’s EVIV index fell to 66% from 77%. One-day implied volatility for both tokens remains steady, signaling no immediate panic ahead of Tuesday’s U.S. Bureau of Labor Statistics payroll revisions.

Open interest (OI) in futures for the top 20 tokens increased over the past 24 hours, with WLD, ENA, SOL, DOGE, and XRP seeing the largest inflows. Bitcoin futures OI rose nearly 3%, while Solana futures on CME hit a record 6.82 million SOL, posting a three-month annualized premium above 15%, nearly double BTC and ETH.

Institutional positioning remains cautious. Traders continue to reduce exposure in CME bitcoin futures, while ether futures OI extends its decline. Elevated options activity for BTC and ETH reflects hedging demand. On Deribit, bearish sentiment for BTC puts has softened, with similar trends for ether. OTC desk Paradigm reports traders holding September puts while writing upside calls, signaling a cautious stance.

Worldcoin continued its rally on Tuesday, posting another 51% gain over 24 hours and 122% over the past week. The surge follows Eightco Holdings’ (OCTO) $250 million private placement, setting the stage for a WLD treasury strategy. By comparison, Solana’s $1.65 billion treasury initiative delivered only a 1.7% 24-hour gain, highlighting WLD’s unique momentum.

Trading volume for WLD surged to $3.7 billion — up 250% from the previous day and 2,000% from Friday. Technically, WLD broke out of an eight-month range centered around $1.00, with a potential retracement to $1.62 before challenging $2.00.

The broader altcoin market remains strong, with the CoinMarketCap Altcoin Season Index at 57/100 — near its highest level this year — suggesting further upside if BTC and ETH continue holding key support levels.