Solana’s Crypto Wallet Phantom Records 1 Million Active Users, SOL reaches ATH

Solana’s crypto wallet Phantom has hit over a million active customers because the Solana Blockchain continues to see an increase in popularity.

Phantom announced earlier this week that the wallet had lastly damaged over a million active customers. A formidable feat for a wallet that has only been around for a couple of months. 

Phantom operates as an online wallet for customers to securely and simply “store, send, receive, stake and swap tokens on the Solana blockchain.”Sponsored

Growth of NFTs triggering Phantom popularity 

With the latest reputation of non-fungible tokens (NFTs) over the past several months, Ethereum-based NFT platform OpenSea had loved the lion’s share of NFT trading. At one level, the platform was eclipsing $1.5 billion in monthly trading volume. NFT mania has slowly shifted to different blockchains that allow for lower transaction charges, one thing that ethereum doesn’t currently offer. 

The Solana ecosystem rapidly grew to become the second most popular blockchain for NFT trading. Just like the favored ethereum wallet used for trading NFTs on the ethereum marketplace, MetaMask is the go-to wallet. With the wallet lately reaching ten million monthly users. 

Crypto Wallet Phantom basically grew to become the go-to wallet for the Solana blockchain and NFT trading. The intuitive wallet permits customers to easily transact on NFT platforms, whereas additionally permitting customers to preview their NFTs within the wallet. One thing not provided on MetaMask. 

Related: Solana (SOL) Price Forecast November 07, 2021 – Daily News | Technical Analysis | Price Prediction By CMN

The NFT craze has seen over $500 million in quantity for secondary sales on the Solana blockchain. Essentially the most notable part of that statistic is that it was achieved in only three months. 

Phantom has managed to reach over a million active customers, which are described by Phantom as “someone who manually opens the wallet or interacts with a Dapp such as signing a transaction or connecting to it.”

Solana (SOL) continues to climb 

Whereas the Solana ecosystem continues to see big development in the market, Solana (SOL) has also seen a huge enhance in worth. SOL has most lately managed to leap-frog each Cardano (ADA) and Tether (USDT) to take the fourth spot by market capitalization. SOL recently broke its all-time high once again, touching $260. 

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