In an thrilling growth, Phantom, a San Fransisco-based cryptocurrency pockets used within the Solana ecosystem, has witnessed a major rise in its consumer 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 most recent growth in an interview with TechCrunch.
Within the interview, Millman revealed that the variety of lively customers of Phantom has tripled up to now yr. Particularly, the platform reached over 3.2 million Month-to-month Energetic 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 lively 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. Nonetheless, it has grown to accommodate different blockchains, resembling Bitcoin, Ethereum, and Polygon. Milman said:
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 comply with the identical path.
The agency plans to extend its lively 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 main focus.
“The extra customers that enroll, the extra builders are interested in constructing on the ecosystem, and the extra functions and customers we get,” Millman said. He added that the corporate goals to “develop as quick as potential” to realize its aim.
Airdrops Making Most Of The Rise
In accordance with Millman, Phantom’s rise in consumer base was because of a number of Solana-based airdrops up to now 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 number of the greatest builders on this planet,” Millman said. In accordance with Millman, these airdrops reveal 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.
Featured picture from Charlie DeFi, chart from Tradingview.com
