Let’s explore the latest crypto market updates that are shaping the key trends today, on Sept. 12.
Solana is experiencing significant momentum as both SOL and its ecosystem tokens rank among top gainers, with SOL up 5.74% to nearly $240 and PUMP surging 9.59%. The rally is driven by growing excitement around the Alpenglow upgrade, which received 98.27% approval and promises to reduce transaction finality from 13 seconds to sub-second speeds, enabling real-time gaming and high-frequency trading applications.
Supporting this momentum, Pump.fun deposited $74.24 million worth of PUMP tokens to Kraken to enhance liquidity, while other Solana ecosystem tokens like BONK (+6.87%), JUP (+5.18%), and RAY (+5.08%) also feature among the day’s top performers.
Read more here.
Gemini Space Station, the cryptocurrency exchange founded by the Winklevoss twins, made a spectacular Nasdaq debut on September 12, opening at $37.01 and surging over 40% from its $28 IPO price.
The stock experienced extreme volatility, triggering two trading halts within the first hour as it peaked at $40.71 before settling around $35 by midday. The oversubscribed offering raised $425 million with demand exceeding available shares by more than 20 times.
This successful debut represents the latest milestone in 2025’s unprecedented crypto IPO wave, fueled by regulatory clarity through legislation like the GENIUS Act and growing institutional adoption.
Read more details here.
Tether has unveiled USAT, a new US-compliant stablecoin led by Bo Hines, former White House Crypto Council Executive Director. The fully dollar-backed stablecoin will comply with the GENIUS Act and be issued through Anchorage Digital, with Cantor Fitzgerald as reserve custodian, though no launch date has been announced.
Meanwhile, Tether’s USDT continues to dominate the stablecoin market with nearly 500 million users and a $169.5 billion market cap, far exceeding Circle’s $72.3 billion USDC. Evidence suggests USAT has been in development since 2023, positioning Tether to strengthen America’s role in the global digital economy through regulatory-compliant infrastructure.
Read more details here.
Polygon has partnered with Cypher Capital to expand POL access in the Middle East. The initiative aims to attract institutional investors while boosting liquidity and network growth. Structured access and yield strategies will make participation easier for professional investors.
The Middle East is emerging as a key hub for digital assets, with supportive regulations and strong interest. Polygon expects the partnership to increase investor confidence and strengthen network security. This move also aligns with ongoing technology upgrades to support wider adoption and DeFi use.
Polygon Labs x @cypher_capital
— Polygon (@0xPolygon) September 12, 2025
We’re teaming up to expand institutional access to POL across the Middle East.
The initiative channels long-term capital into the ecosystem, giving institutional investors exposure to POL while generating yield, growth and network security. pic.twitter.com/ZQE6KZ7cVr
World Liberty Financial, a DeFi project linked to the Trump family, is holding a governance vote on a WLFI token buyback-and-burn program.
The plan would use all protocol-owned liquidity fees to repurchase tokens from the market and permanently burn them. This move aims to reduce circulating supply and reward long-term holders.
The proposal has received over 99% community support ahead of the Sept. 18 vote. All transactions will be recorded on-chain for transparency, and only protocol-owned fees are used. Read more details here.