WLD, MYX Lead Crypto Gains Amid Gold Hitting Inflation-Adjusted High

Altcoins Soar as Major Cryptos Recover: WLD and MYX Lead the Charge

Smaller tokens are making strong gains as major cryptocurrencies rebound from Friday’s declines. Bitcoin (BTC $111,067), ether (ETH), and XRP ($2.95) are all recovering, setting the stage for broader market strength.

Worldcoin (WLD $1.78), founded by Sam Altman, has emerged as a standout, jumping 122% in the past 24 hours. MYX Finance’s MYX token has surged even more dramatically, climbing 270% in a single day. The broader DeFi sector is benefiting as investors seek yield ahead of anticipated Fed interest-rate cuts.

In traditional markets, gold extended its record run to $3,650 per ounce, marking its third consecutive day of gains. Adjusted for inflation, gold has surpassed its 1980s peak, according to Barchart.com. Pseudonymous analyst EndGame Macro commented on X, “Moves of this magnitude indicate that confidence in the current monetary framework is weakening.”

Despite Friday’s payroll data stoking stagflation fears, the crypto market remains relatively calm. Bitcoin’s 30-day implied volatility (BVIV) has eased to 38% from 44% in late August, while ether’s EVIV index has retreated to 66% from 77% in August. One-day implied volatility for both coins shows little change, indicating no immediate panic ahead of Tuesday’s payroll revisions by the U.S. Bureau of Labor Statistics.

Open interest in futures for the top 20 tokens has risen over the past 24 hours, signaling renewed capital inflows. WLD, ENA, SOL, DOGE, and XRP saw the largest increases. Bitcoin futures OI climbed nearly 3%, while Solana futures on CME reached a record 6.82 million SOL, with a three-month annualized premium exceeding 15% — nearly double that of BTC and ETH.

Institutional positioning remains cautious. Traders are withdrawing from CME bitcoin futures, and ether futures OI continues its descent. CME options activity for BTC and ETH remains elevated, reflecting hedging demand. Deribit data shows softened bearish sentiment for BTC puts, with similar trends for ETH. OTC desk Paradigm reports traders holding September puts while writing upside calls, underscoring a cautious approach to further upside.

Worldcoin continued its rapid ascent on Tuesday, posting another 51% gain over 24 hours and 122% over the past week. The rally follows Eightco Holdings’ (OCTO) $250 million private placement on Monday, laying the groundwork for a Worldcoin treasury strategy. By comparison, other treasury initiatives, such as Solana’s $1.65 billion treasury, yielded only modest gains of 1.7% in 24 hours, highlighting WLD’s unique catalysts.

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

The altcoin rally occurs against a backdrop of broader market strength. The CoinMarketCap Altcoin Season Index stands at 57/100, nearing its highest level this year, suggesting further upside may be possible if BTC and ETH continue holding key support.

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