Let’s check what is happening in the crypto market today, on Sept. 22.
Today, on Sept. 22, it has become known that PancakeSwap activated its Solana cross-chain swap feature. It will allow users to swap tokens across multiple blockchains instantly, without bridging or relying on third-party platforms.
The upgrade will streamline the process into a single transaction directly within the interface.
With this integration, Solana tokens can now be exchanged with assets on BNB Chain, Arbitrum, Ethereum, ZKsync, and other supported networks, and vice versa.
Crypto lawyer Bill Morgan emphasized that the Ripple vs. SEC lawsuit has “run its course” and can no longer be used to explain XRP’s stagnant price.
He noted that XRP proponents need to move beyond the legal battle and find other factors to justify the token’s flat performance, as the market has yet to respond positively despite favorable developments.
Yes the lawsuit excuse has run its course for any further lack of XRP adoption or flat price action. https://t.co/Gl2U8Z7Ui9
— bill morgan (@Belisarius2020) September 22, 2025
Ethereum is trading at $4,166, down 6.7% over the past 24 hours. The asset has shed 7.6% in the last week and nearly 12% over the past month.
The decline has been accompanied by a surge in trading activity. Derivatives trading climbed 203% to $104.8 billion, according to CoinGlass.
Despite this spike, open interest slipped 7.59% to $658.78 billion. These figures indicate that traders are currently unwinding positions, instead of initiating new ones.
The crypto market saw more than $1.5 billion in liquidations. This sparks a sharp downturn that weighs most heavily on smaller tokens.
Ethereum lost 9% and fell $4,075, while Bitcoin retreated nearly 3% to $111,998 as leveraged positions were wiped out.
In total, over 407,000 traders were liquidated within 24 hours, which was the steepest loss in months.
XRP lost 6.2% over the past 24 hours. Now it is trading at $2.81. Its current market cap is $168.2 billion.
The debut of the first US-listed XRP ETF drove record trading volumes, but institutional profit-taking quickly triggered a pullback.
Analysts note that while the ETF launch provides momentum, strong resistance remains around the $3.00 mark.
