Solana dominates crypto trends with SOL up 5.74% and ecosystem tokens BONK, JUP, and RAY among top gainers, fueled by the Alpenglow upgrade’s 98% approval and major liquidity injections.
Solana is trending in social activity, and SOL, together with other tokens from its ecosystem, is among the top gainers of the day. This rise matches a growing bullish sentiment in all markets, increased institutional interest in Solana SOL $195.9 24h volatility: 2.6% Market cap: $107.13 B Vol. 24h: $7.31 B , Pump.fun treasury movements for liquidity, and development improvement discussions related to Alpenglow.
According to data Coinspeaker gathered from CoinMarketCap on Sept. 12, Pump.fun and Solana are the first- and second-most trending projects in the last 24 hours, respectively. Looking at price performance, PUMP ranks fourth, up 9.59%, and SOL ranks eighth, up 5.74%, while trading at nearly $240 as of this writing.
Other Solana ecosystem tokens in today’s top 10 gainers include the memecoin BONK in sixth place (+6.87%), Jupiter’s JUP (+5.18%), and Raydium’s RAY (+5.08%) in ninth and 10th place, respectively.
24-hour trending cryptocurrencies (top) and top gainers (bottom) on Sept. 12 | Source: CoinMarketCap
Alpenglow Upgrade and Pump.fun Moves Drive Solana’s Rally
Alpenglow, a key upgrade for Solana, cleared its first sub-proposal on Sept. 2 with 98.27% approval. It aims to lower latency from 13 seconds to sub-second finality, enabling uses like real-time gaming and high-frequency trading, while improving validator profitability for smaller operators, according to a recent report by DLNews.
Pairing it with a reduced inflation schedule could distribute revenue more evenly, addressing stake concentration where fewer than 100 validators control over half the network, based on a post by Mustafa Qazi, a researcher at Volt Capital.
becoming a small profitable @solana validator is virtually impossible.
luckily, alpenglow + dynamic inflation have the potential to address this.
in our latest piece w/ @curiousgurnoor, we show why this is the case using @heliuslabs data:
— mustafa (@mustafakqazi) September 10, 2025
Adding to development-related discussions, Pump.fun moved 13 billion PUMP tokens, valued at $74.24 million, to Kraken on Sept. 11 to add liquidity. According to on-chain tracker Lookonchain, this deposit supports trading depth for the token, which has climbed amid Solana’s momentum.
pump fun(@pumpdotfun) just deposited 13B $PUMP($74.24M) to #Kraken to add liquidity.https://t.co/SHGT4RhWPP pic.twitter.com/CIspextp9c
— Lookonchain (@lookonchain) September 11, 2025
On the macro side, the CME FedWatch tool indicates a 10% chance of a 50 basis point interest rate cut at the Federal Reserve’s Sept. 17 meeting, and prediction markets are pricing an even higher chance following recent jobs and PPI data. Coinspeaker reported earlier this week that this macro shift could push liquidity to riskier assets like SOL and other cryptocurrencies.
Nasdaq also filed with the SEC on Sept. 8 to allow tokenized equities and ETPs trading, highlighting blockchain’s role in traditional finance. Solana could find a niche there, being known as the decentralized Nasdaq in the crypto space.
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