WLD and MYX Tokens Surge While Gold Reaches Record High
Major cryptocurrencies like Bitcoin, Ether, and XRP are recovering from recent declines. Smaller tokens are experiencing significant gains:
- Worldcoin (WLD) surged 122% in 24 hours.
- MYX token rose 270% in one day.
The DeFi sector is attracting interest as investors seek yield ahead of anticipated Fed interest-rate cuts.
Market Insights
- Bitcoin’s 30-day implied volatility decreased to 38%, while Ether’s dropped to 66%.
- Open interest in futures for top tokens increased, indicating capital inflows, especially into WLD, ENA, SOL, DOGE, and XRP.
- Solana's futures open interest reached a record high of 6.82 million SOL.
- Traders are withdrawing capital from CME Bitcoin futures; Ether futures open interest continues to decline.
- Bearish sentiment for Bitcoin puts has softened but remains evident.
- OTC desk Paradigm shows long positions in September puts alongside upside calls, reflecting trader caution.
Token Developments
- Worldcoin (WLD) gained 51% over 24 hours, totaling 122% in the past week.
- The rise followed an announcement by Eightco Holdings of a $250 million private placement related to Worldcoin treasury strategy.
- WLD trading volume hit $3.7 billion, a 250% increase from the previous day.
- WLD's price broke out of an eight-month range, expected to test $1.62 before possibly reaching $2.00.
- The altcoin season index is at 57/100, suggesting potential further upside if Bitcoin and Ether maintain momentum.