Fb and ChatGPT apart, there is a new police chief on the town – no less than on the subject of cell app downloads. Phantom Pockets, a cryptocurrency pockets designed particularly for the Solana blockchain, has shortly grown in reputation, surpassing these giants within the US rankings on the Google Play Retailer.
From Solana-centric to multi-cryptocurrency powerhouse
Phantom Pockets was initially launched to cater to Solana (SOL) token holders and has now strategically expanded its attain. It now helps main cryptocurrencies akin to Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC), remodeling itself right into a one-stop store for cryptocurrency fanatics.
🚨Break🚨
Phantom Pockets turns into the TOP 3 sensible utility within the US Apple App Retailer!
plainly $SOL The season goes to be enormous!
What SOL cash ought to I purchase? pic.twitter.com/QiLOv4Es1V
— EvanLuthra.eth (@EvanLuthra) May 19, 2024
In response to the most recent information, Phantom Pockets was downloaded an estimated 770,000 occasions in April, forward of social media large Fb and OpenAI’s language mannequin ChatGPT.
Phantom presently ranks eleventh within the free obtain class, behind Money App and Snapchat.
This shift displays the rising want for interoperability throughout the crypto ecosystem, permitting customers to seamlessly navigate between completely different blockchains.
Surge in lively customers: An indication of cryptocurrency maturity?
The surge in downloads is not nearly digital video games. Phantom Pockets had greater than 7 million lively customers in April, an vital metric that some interpreted as an indication of mainstream cryptocurrency adoption.
We have reached a brand new milestone!
7 million month-to-month lively customers🤯🎉 pic.twitter.com/p4Tpjut6kZ
— Phantom (@phantom) April 29, 2024
As DeFi (decentralized finance) purposes develop in reputation, user-friendly wallets like Phantom have turn out to be an vital gateway for these seeking to discover this new monetary sector.
Is that this a bullish signal for Solana?
The cryptocurrency group is rife with hypothesis. The rising reputation of Phantom pockets has fueled optimism about Solana’s native token, SOL. Supporters view the surge in pockets utilization as a possible indicator of a bullish pattern for SOL, exhibiting traders’ rising confidence within the Solana blockchain.
Phantom acquires Bitski
Phantom’s rising reputation coincides with its current acquisition of Bitski, a web3 browser extension. This transfer highlights Phantom’s dedication to person expertise. By integrating Bitski’s expertise,
Phantom is designed to simplify the onboarding course of and get rid of the necessity for customers to handle complicated personal keys and mnemonic phrases. This may very well be a sport changer in attracting new customers, particularly those that are intimidated by the technical points of crypto wallets.
The way forward for embedded wallets
The Bitski acquisition hints at Phantom’s imaginative and prescient for the long run. In partnership with Bitski, Phantom plans to develop embedded wallets inside Solana-based decentralized purposes (dapps).
It will enable customers to work together instantly with dapps with out leaving the applying, making a smoother and extra intuitive person expertise.
Featured photos from elDinero, charts from TradingView
