According to the latest data from Coincall, the altcoin market saw a potential surge in optimism following the Token 2049 event, as in previous years.
According to analysts, historically this event has been known to trigger gains in the altcoin sector, which is affected by movements in major cryptocurrencies.
The latest data from Coincall shows a slight increase in volatility for altcoin options. The Put/Call ratio has increased significantly from 0.42 to 0.86 over the past week, while trading volume has also increased by an impressive 166%.
Among the most traded altcoins, Solana (SOL) led with 76.04% IV, followed by ORDI with 107.13% and XRP with 71.55%.
With the recent rally in the broader crypto market, investors are becoming increasingly bullish on altcoins.
Options traders choose to buy long-term call options to set their expectations for future price increases.
At the same time, some are also selling short-term put options, indicating growing confidence in the market's positive momentum.
*This is not investment advice.
