Phantom Pockets Milestone: CEO Confirms Surge To New Heights In Consumer Base | Bitcoinist.com


In an thrilling improvement, Phantom, a San Fransisco-based cryptocurrency pockets used within the Solana ecosystem, has witnessed a major rise in its person base over the previous yr.

Phantom’s Consumer Base Reaches New Peak

The platform’s chief government officer (CEO) and co-founder, Brandon Millman, revealed the newest improvement in an interview with TechCrunch.

Within the interview, Millman revealed that the variety of energetic customers of Phantom has tripled previously yr. Particularly, the platform reached over 3.2 million Month-to-month Lively Customers (MAUs) in January 2024, a 220% rise from its 1 million MAUs within the earlier yr.

The community additionally noticed a surge in installs from 167,000 to about 941,000 throughout the identical interval, indicating an increase of over 463%. This surge in month-to-month energetic customers and installs marks a serious milestone for the crypto platform, placing it within the highlight.

Notably, Phantom was launched as a Solana-only crypto pockets in January 2021. Nevertheless, it has grown to accommodate different blockchains, resembling Bitcoin, Ethereum, and Polygon. Milman acknowledged:

We consider the way forward for wallets is multichain, simply the way in which crypto exchanges have advanced. Coinbase began as a Bitcoin-only trade, then added assist for Ethereum, and one factor led to a different. Nobody can fathom a world the place exchanges solely have one coin. Wallets will observe the identical path.

The agency plans to extend its energetic customers to turn out to be the go-to place for these new to cryptocurrency and wallets. Phantom generates income simply as different main wallets by providing in-app options. Nonetheless, Millman asserted that this isn’t the corporate’s major focus.

“The extra customers that join, the extra builders are interested in constructing on the ecosystem, and the extra purposes and customers we get,” Millman acknowledged. He added that the corporate goals to “develop as quick as doable” to attain its aim.

Airdrops Making Most Of The Rise

Based on Millman, Phantom’s rise in person base was as a consequence of a number of Solana-based airdrops previously yr. He additional highlighted that earlier airdrops like Jito (JTO) and Jupiter (JUP) served as a “turning level” for the ecosystem.

“Solana has reached escape velocity and proved itself to be a first-class ecosystem, attracting a few of the greatest builders on the earth,” Millman acknowledged. Based on Millman, these airdrops display the worth of composability and the next surge of customers.

One other issue underscored by the CEO is the rising exercise within the Decentralized Finance (DeFi) sector. Milman identified that airdrops supplied by DeFi protocols are enhancing adoption, and cryptocurrency wallets are progressively serving as the primary “level of entry” for brand new customers within the crypto panorama.

SOL buying and selling at $116 on the 1D chart | Supply: SOLUSDT on Tradingview.com

Featured picture from Charlie DeFi, chart from Tradingview.com



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