The largest wallet on Solana, Phantom, announced several key updates to its platform. The team has talked about improving users’ discovery of tokens and applications and dismissed any plans to launch a native token.
Phantom has had streaks of success; once, it even outranked Coinbase on the US App Store. In 2024, it reached a certain set of milestones that reflected the impact of the company in crypto. The platform had more than 10 million monthly active users, up from a 376% surge compared to 2023. It was able to process some 850 million transactions, averaging nearly 27 transactions per second.
Then came a strong focus on social features. Phantom introduced usernames, and 2.5 million were claimed. The most-followed profile had more than 8,000 followers, with more than 14 million followers. With these innovations, the team sought to make crypto more personal and user-friendly.
On the technical side, Phantom extended to Bitcoin and Base chains, which is a further step towards interoperability. Acquisitions by Bitski and Blowfish added power to the platform’s offerings. On the platform, swaps crossed 120 million, with 788,000 unique tokens swapped and $613 million bridged cross-chain.
Phantom app achieves 24M downloads, 852% annual growth
Performance mirrored the rise in the app’s usage. It notched up 24 million downloads, up a whopping 852% over last year, while users opened the app an average of 16 times daily, a sign of relevance in their digital routine.
It also celebrated topping the App Store charts twice in 2024. Phantom reached #1 in Utilities and #4 overall, rounding out the leader. These achievements point out the rapid growth and innovations within the year. The team is not stopping; they are fully committed to its mission.
By 2025, they will work on improving user experiences and finding new features. This journey has been great, yet Phantom believes there is much more to achieve.
As the new year starts, Phantom has represented a realization of some of the great possibilities that can be achieved with crypto technology. The team continues to work tirelessly, pushing further and always keeping the users at the heart of any decision.
