Crypto Price Today (September 12): MYX Surges 23% as Altcoins DOGE and SOL Gain

TheCryptoTimesPublished on 2025-09-12Last updated on 2025-09-12

The crypto market is in green today even as investors settle for the weekend. Currently, major tokens are up an average of 2-5% in 24 hours. As a result of that, the overall market capitalization has increased by 1.59% to $4.02 trillion, almost hitting its all time high of $4.05 trillion set in July.

DOGE & SOL Surge 6% in 24 Hours

Dogecoin (DOGE) and Solana (SOL), both ranked within the top 20 cryptocurrencies by market capitalization, saw their prices spike by 6% each over the last 24 hours, according to data from CoinMarketCap.

At the time of writing this report, DOGE is trading for $0.2638, up from a daily low of $0.2493 during the Asian trading session. Meanwhile, DOGE’s market capitalization increased to $39.82 billion, despite a 1.58% drop in trading activity to $3.73 billion.

SOL is currently trading for $239.29. Over the last 24 hours, the token has experienced a 33% surge in trading activity, which led to $12.01 billion. The token saw momentum during the Asian session when it was trading $234, then surged $241 before dropping a brief.

MYX Finance Surge 23% from Previous Day

MYX Finance (MYX) saw the most gains, climbing over 23% over the same period. The price surge was accompanied by a 23% increase in trading activity, which resulted in a trading volume of $3.54 billion.

Meanwhile, the token initially saw a drop during the Asian trading hours, when it dipped down to $10.5, before surging back up during the New York session to trade at $18.08.

Myx Finance Price Chart — MYX Finance Price Chart | Source: Coinglass

Market Sentiment

The recent price action aligns with a shift in investor sentiment toward altcoins. According to the Altcoin Season Index, sentiment has moved to 67%, indicating that traders are increasingly focusing on non-Bitcoin cryptocurrencies. This sentiment shift comes even as the overall market sentiment, as measured by the Fear and Greed Index, remains neutral at 50%.

The market rally occurred alongside a period of significant liquidations from leveraged trading. According to data from Coinglass, a total of 105,839 trades were liquidated yesterday, resulting in $286.24 million in total liquidations.

Long-position traders, who bet on rising prices, were liquidated for $67.45 million, while short-position traders, who bet on falling prices, saw $218.94 million in liquidations, suggesting a sharp, unexpected price move upwards.

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Strategy Watch #5

Strategy Watch #5 analyzes institutional digital asset trends in May, highlighting diverging flows. While corporate treasuries continued accumulating Bitcoin (BTC) and Ethereum (ETH), spot ETF investors reduced exposure. Market-neutral strategies benefited as CME basis yields turned positive, reviving cash-and-carry trades. A deep dive into DeFi notes that while outflows slowed, total value locked (TVL) continued declining. The report also covers fund performance, on-chain vault yields, manager positioning as cash balances rise, and new institutional expansion initiatives.

insights.glassnode44m ago

Google's 'Reasoning King' Also Departs for Meta, Originally Recruited by Fei-Fei Li

"Google's 'King of Reasoning' Leaves for Meta, Quietly Departing After Over Eight Years. Denny Zhou, a key figure behind Google's AI reasoning advancements including work showcased by CEO Sundar Pichai, has joined Meta's MSL as a research scientist. His low-profile move, discovered via a LinkedIn update, occurred months before the high-profile departures of Noam Shazeer to OpenAI and Nobel laureate John Jumper to Anthropic. Zhou was originally recruited to Google by Fei-Fei Li's China center initiative after nearly 11 years at Microsoft. This is part of a significant talent drain at Google, with top researchers like Shazeer (co-author of the Transformer paper) and Jumper (AlphaFold lead) recently leaving for rivals. Reports suggest internal friction is a contributing factor, particularly around Google's strategic shift. The company has reportedly formed a high-priority 'AI Coding Strike Team,' involving co-founder Sergey Brin, to urgently bridge the gap in AI coding agents, potentially reallocating resources and focus away from other research directions like DeepMind's 'world model' AGI approach. This pivot towards commercially-proven coding applications may have influenced departures, as hinted by Shazeer's comment about his compute allocation being given to another team. Meanwhile, Meta continues to bolster its team, also recently hiring UC Berkeley professor and 'security godmother' Dawn Song, along with her startup Virtue AI team, as a VP of AI research."

marsbit44m ago

Google's 'Reasoning King' Also Departs for Meta, Originally Recruited by Fei-Fei Li

marsbit44m ago

How Did Hundreds of Billions of Dollars Flow into SpaceX After Its Index Inclusion on June 26th? Will SpaceX Experience a Massive Price Surge?

Will SpaceX ($SPCX) stock surge when billions in passive index fund money flows in on the effective date? A common retail investor belief is that a massive wave of buying will hit on July 6th, when SpaceX joins the Nasdaq-100, potentially causing a huge price spike. However, the reality is far more complex and less dramatic. The anticipated billions are not controlled by a single entity but are spread across hundreds of passive fund managers (e.g., BlackRock, Vanguard) whose sole mandate is to minimize "tracking error." They aim to buy shares at prices as close as possible to the index's closing price on the effective date, not to aggressively drive the price up. There are two key index inclusion scripts: 1) For the Russell US Index (effective June 26th at close), buying is compressed into the final minutes via Market-On-Close (MOC) orders. 2) For the Nasdaq-100 (announced June 26th, effective July 6th), a 10-day window creates a layered game. Arbitrage funds buy early, betting on selling to passive funds later. Some index funds "front-run" by accumulating shares gradually before the deadline. The bulk of passive funds execute large MOC orders at the July 6th close, often trading directly with arbitrageurs. A critical wildcard is SpaceX's limited free float due to a standard 180-day post-IPO lockup. To avoid causing a massive price spike by competing for scarce shares on the open market, large funds will likely use off-exchange methods: 1) Negotiating large block trades (over-the-counter) with major holders. 2) Using derivatives like total return swaps with locked-up shareholders to gain economic exposure without physically buying the stock. Most of the index-driven buying will thus happen invisibly, not on public exchanges. For retail investors, trying to front-run these sophisticated flows is risky. More viable strategies include: waiting for post-inclusion volatility to subside before establishing a long-term position, or employing options strategies like selling strangles to profit from elevated, but potentially overstated, implied volatility around the event. In conclusion, while price appreciation may occur in the days following the announcement due to arbitrage and front-running activity, a single-day "explosive pump" on July 6th is highly unlikely. The major index fund buying will be executed efficiently and discreetly, often away from public markets, turning the anticipated climax into a well-orchestrated, anti-climactic settlement.

marsbit57m ago

How Did Hundreds of Billions of Dollars Flow into SpaceX After Its Index Inclusion on June 26th? Will SpaceX Experience a Massive Price Surge?

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Toss Brings 30 Million Users Into the AI Data Economy in Partnership With Poseidon

Poseidon, a data infrastructure company for AI, has partnered with South Korean mobile financial platform Toss (operated by Viva Republica) to integrate its contributor app, Numo, into the Toss app. This partnership allows Toss's approximately 30 million users to contribute real-world voice, image, and video data for AI training and receive direct payment for their contributions. The initiative addresses the AI industry's growing need for high-quality, first-person data not available on the open web, crucial for developing physical intelligence in robotics and autonomous vehicles. Poseidon's infrastructure tracks each contribution's value, while Toss handles user payments. Contributions are registered on the DATA network, which provides verifiable provenance via its Trace audit layer. The partners aim to prove this user-compensated data model in South Korea—a market with dense real-life data and advanced mobile finance—before expanding globally. Poseidon recently raised a $15 million seed round led by Andreessen Horowitz.

TheNewsCrypto59m ago

Toss Brings 30 Million Users Into the AI Data Economy in Partnership With Poseidon

TheNewsCrypto59m ago

0.7nm Process Chip Emerges, Moore's Law Lives On

IBM has unveiled the world's first sub-1-nanometer (0.7nm) chip technology, integrating nearly 100 billion transistors into an area the size of a fingernail. This breakthrough doubles the transistor density of current 2nm chips and promises a 50% performance gain or a 70% improvement in power efficiency. The achievement is powered by IBM's "NanoStack" architecture, a pioneering 3D design featuring vertically stacked nanosheet transistors. This evolution from FinFET and Gate-All-Around (GAA) technologies offers superior electrostatic control. IBM has demonstrated the technology's viability with functional CMOS inverters and a 40% area reduction in SRAM, crucial for AI chip data bandwidth. Addressing the critical power consumption challenges in AI computing, this advancement extends the roadmap for chip miniaturization. While IBM does not manufacture chips itself, it licenses its process technology to partners. The company projects that NanoStack-based chips could enter production within the next five years, potentially sustaining Moore's Law for another decade.

marsbit1h ago

0.7nm Process Chip Emerges, Moore's Law Lives On

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While the overarching objectives of Doge Matrix are not extensively defined, it is characterized by a commitment to harnessing community involvement and support. Unlike traditional cryptocurrencies that often emphasize utility or intrinsic value through underlying technologies, Doge Matrix positions itself within a space that embraces the cultural phenomenon of cryptocurrencies, particularly appealing to those who resonate with the ethos of meme-based assets. Drawing on the strengths of the Dogecoin community, Doge Matrix operates as part of a broader ecosystem, inviting participation and engagement from users who share an interest in cryptocurrency and the digital landscape. Who is the Creator of Doge Matrix ($doge m)? The identity of the creator of Doge Matrix remains unknown. This lack of transparency is not an uncommon occurrence in the cryptocurrency space, where some projects are launched without revealing the identities of their founders. 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