Altcoins Lead Crypto Gains as Major Tokens Recover, WLD and MYX Surge

Smaller tokens are surging as major cryptocurrencies, including bitcoin (BTC $111,067) and ether (ETH), continue their rebound from Friday’s declines. XRP ($2.95) is also recovering steadily.

The standout performers are Worldcoin (WLD $1.78), founded by Sam Altman, which has jumped 122% in the past 24 hours, and MYX Finance’s MYX token, which surged 270% in a single day. The broader DeFi sector is showing strength as investors search for yield ahead of anticipated U.S. Federal Reserve rate cuts.

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

Despite Friday’s payroll data raising stagflation worries, market sentiment remains relatively calm. Bitcoin’s 30-day implied volatility (BVIV) has eased to 38% from 44% in late August, while ether’s EVIV index slipped to 66% from an August peak of 77%. One-day implied volatility for both assets remains steady, suggesting no immediate panic ahead of Tuesday’s U.S. Bureau of Labor Statistics revisions to payroll figures.

Open interest (OI) in futures for the top 20 tokens has risen over the past 24 hours, signaling capital inflows. The largest inflows have been into WLD, ENA, SOL, DOGE, and XRP. Bitcoin futures OI increased nearly 3%, while Solana futures on CME hit a record 6.82 million SOL with a three-month annualized premium exceeding 15%, almost double that of BTC and ETH.

Traders continue to reduce exposure in CME bitcoin futures, while ether futures OI extends its decline. CME options activity for BTC and ETH remains elevated, reflecting ongoing hedging demand. On Deribit, bearish sentiment on BTC puts has softened but remains notable, and similar dynamics are visible for ether. OTC desk Paradigm shows traders holding September puts while writing upside calls, indicating caution and reluctance to fully commit to a breakout.

Worldcoin continued its rapid ascent on Tuesday, posting another 51% gain over 24 hours and a 122% increase over the past week. The rally follows Eightco Holdings’ (OCTO) $250 million private placement announcement on Monday, paving the way for a worldcoin treasury strategy. By contrast, other treasury announcements, such as a $1.65 billion Solana (SOL $213.78) treasury, led to modest 24-hour gains of just 1.7%, suggesting additional catalysts underpin WLD’s move.

WLD trading volume soared to $3.7 billion over 24 hours — a 250% increase from the previous day and a 2,000% surge from Friday. Technically, WLD has broken out of an eight-month range centered around $1.00. Analysts expect a potential retracement to test $1.62 before revisiting the $2.00 level.

The rally occurs amid broader altcoin strength, with the CoinMarketCap Altcoin Season Index at 57/100 — approaching its highest point this year. If bitcoin and ether continue to hold above key support levels, further upside across altcoins may follow.