Crypto Market Explodes: WLD & MYX Surge While Gold Hits Inflation-Adjusted Record High

Digital assets roar back as traditional safe havens hit unprecedented levels—proving once again that everything's a risk asset when central banks lose the plot.

WLD and MYX Lead Crypto Charge

While gold's hitting historic inflation-adjusted highs—because apparently 1970s nostalgia is back in style—cryptocurrencies aren't sitting on the sidelines. WLD and MYX are posting explosive gains, outperforming traditional markets as smart money rotates into assets that can't be printed into oblivion.

Gold's Phantom Record

That 'record high' gold price? Adjusted for real inflation, we're still playing catch-up to the 1980 peak—but don't tell that to the CNBC anchors. Meanwhile, crypto's actual adoption metrics keep climbing while gold bugs argue about shadow inflation calculations.

Digital vs Physical Safe Havens

While gold requires armed guards and storage fees, these crypto gains are secured by mathematics and network effects. The old guard's 'store of value' narrative looks increasingly fragile next to assets that actually do something besides gather dust in a vault.

Another day, another reminder that the future of finance isn't being built in bank vaults—it's being coded on decentralized networks while traditional finance debates which inflation metric makes their underperformance look less embarrassing.

Derivatives Positioning

By Omkar Godbole

• The market remains calm despite Friday's payroll data reigniting concerns about the risk of stagflation. Bitcoin’s 30-day implied volatility, as measured by Volmex’s BVIV, has eased to 38% from 44% at the end of August. Ether’s volatility index, EVIV, slipped to 66%, backing off from its August peak of 77%.
• The one-day implied volatility indices for both the two largest cryptocurrencies remain little changed, signaling no signs of panic ahead of Tuesday’s announcement by the U.S. Bureau of Labor Statistics, which is expected to revise payroll figures downward for earlier this year.
• Open interest (OI) in futures tied to the top 20 tokens has increased in the last 24 hours, indicating capital inflows. The biggest inflows are into WLD, ENA, SOL, DOGE and XRP. OI in BTC futures has increased by nearly 3%.
• Solana stands out on the CME, with futures OI hitting a record high of 6.82 million SOL and an annualized three-month premium of over 15%, which is almost double those of BTC and ETH.
• Traders are continuing to withdraw capital from CME’s bitcoin futures, while open interest in ether futures is extending its descent from recent highs. Positioning in CME options tied to bitcoin and ether remains elevated, indicating hedging demand.
• On Deribit, the bearish bias for BTC puts has softened but remains noticeable, even as the spot price has bounced close to $113,000. The same can be said for ether.
• Block flows at OTC desk Paradigm show long positions in September puts combined with writing of upside calls, reflecting traders' continued caution and reluctance to fully commit to an upside breakout.

Token Talk

By Oliver Knight

• Sam Altman-founded Worldcoin (WLD) continued its ascent on Tuesday, taking another leg up to notch a 51% gain over 24 hours and 122% over the past week.
• The most recent rise followed Eightco Holdings' (OCTO) Monday announcement of a $250 million private placement, paving the way for a worldcoin treasury strategy.
• It's worth noting that treasury strategy announcements for other tokens prompted muted upside, for example a $1.65 billion raise to form a solana (SOL) treasury on Monday led to a gain of just 1.7% over 24 hours, suggesting additional catalysts behind the WLD move.
• WLD trading volume surged to $3.7 billion in 24 hours, a 250% rise on the previous day and a 2,000% rise from Friday's total.
• From a technical perspective, the WLD price has broken out of an eight-month range that had it suppressed with a median at around $1.00. It is expected to drop back to test $1.62 before potentially revisiting the $2.00 mark.
• The rally comes amid a backdrop of wider altcoin strength; the CoinMarketCap altcoin season index is at 57/100 as it approaches its highest point this year, indicating that further upside may be on the cards if crypto majors BTC and ETH can continue to drive away from critical levels of support.