What Happened In Crypto Today: Tether’s Launch, Polymarket $10B buzz

The global Cryptocurrency market continued to spike, with a total market capitalization of $4.17 trillion, up 1.1% over the last 24 hours. Trading activity is strong, with $178 billion in daily volume. Bitcoin continued to lead with 55.5% dominance, followed by Ethereum at 13.6%.

No Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin price climbed to $116,151, a modest 0.3% increase, supported by a massive $49.7 billion trading volume and a market cap of $2.31 trillion.

Top trending cryptocurrencies include Hifi Finance (HIFI), which skyrocketed by 347.5% to $0.3913 with strong trading volume of $652M. Solana (SOL) also gained momentum, rising 5.9% to $243.16 on $13.6B turnover. Meanwhile, Linea (LINEA) slipped 1.7% to $0.02294 despite trading activity above $205M.

Top 3 gainers: Hifi Finance (HIFI) soared an impressive 347.1%. Unibase (UB) followed with an 82.6% jump, backed by $83M in trades. Ethernity Chain (ERN) also surged 77.2%, pushing its price to $2.95.

Top 3 losers: OG Fan Token (OG) dropped 21.4% to $16.48. Collector Crypt (CARDS) declined 15%, while Gems VIP (GEMS) slipped 10.3% to $0.1849, showing weakness in select niche tokens.

The Decentralized Finance (DeFi) sector had a market cap of $179 billion, which represented a 3.0% gain. DeFi now represents 4.3% of the global crypto market with almost $10 billion in trading volume.

The market cap of the Stablecoin was $292 billion, which witnessed a 0.3% rise in the last 24 hours, supported by a whopping $137.5 billion trading volume.

Fear and Greed Index Today

Source: Alternative Me

The Bitcoin Fear & Greed Index currently sits at 52 (Neutral), showing balanced sentiment. Yesterday’s reading was 57 (Greed), while last week's was 48 (Neutral). A month ago, sentiment was much higher at 75 (Greed). This suggests traders have shifted from strong optimism toward a more cautious outlook.

Latest Market News Today

Gemini, the crypto exchange backed by the Winklevoss twins IPO priced at $28 per share, raising $425 million and valuing the firm at about $3.3 billion. The 15.2 million-share sale was 20 times oversubscribed. Shares trade on Nasdaq under GEMI, with Nasdaq itself investing $50M. Goldman Sachs, Citi, Morgan Stanley, and Cantor underwrote the deal.

Avalanche has teamed up with Ethena Labs and Pendle Finance to boost DeFi on its fast, low-cost network. Ethena’s sUSDe, a yield-bearing stablecoin, is now live, while Pendle brings fixed and variable yield markets. Backed by delta-neutral hedging, sUSDe creates rewards from funding fees and collateral yields, which increases the opportunities for DeFi across Avalanche's ecosystem .

U.S. consumer sentiment fell in September 2025, with the University of Michigan index dropping to 55.4, down 4.8% from August and 21% lower than last year. Expectations slipped to 51.8, while current conditions eased slightly to 61.2. Inflation outlooks stayed high, with one-year expectations at 4.8% and long-term expectations edging up to 3.9%.

Polymarket, a crypto prediction platform, is set to raise new funding that could triple its value, with one offer putting it at $10 billion, Business Insider reports. The buzz comes after CEO Shayne Coplan said the company gained U.S. regulatory clearance. Investors expect a big U.S. launch, fueling excitement around Polymarket’s rapid growth.

Tether has launched USAT , a U.S.-regulated, dollar-backed stablecoin, and named Bo Hines as CEO of Tether USAT. Backed by transparent reserves and aligned with the GENIUS Act, USAT aims to give institutions a compliant digital alternative to cash. With Anchorage Digital as issuer and Cantor Fitzgerald as custodian, USAT reinforces U.S. dollar dominance in digital finance.

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