Phantom Wallet, a popular app for accessing Solana’s web3 ecosystem, has outperformed Facebook and ChatGPT in the Google Play Store’s U.S. rankings.
Currently ranked #11 in the free download category, just behind Cash App and Snapchat, Phantom Wallet saw approximately 770,000 downloads in April. This impressive performance places it ahead of social media giant Facebook and OpenAI’s ChatGPT, according to data from appfigures.
Phantom Wallet is a self-custodial crypto wallet initially designed to hold Solana (SOL) tokens. However, it now also supports Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC).
Phantom Wallet Shines on Apple App Store
This isn’t the first time the wallet has made headlines for climbing app store rankings. On May 19, Phantom secured the third position in the Apple App Store’s utility category, just behind Google and Google Chrome.
The app also reported more than 7 million active monthly users in April, a sign of its growing adoption within the crypto community.
This surge in downloads has sparked optimism among commentators, who suggest it might signal a bullish trend for SOL. Angel investor Evan Luthra is among those highlighting this positive development.
As of now, the token is trading just above $168, marking a modest 1.35% increase in the last 24 hours and a 16.9% jump over the past 30 days, according to CoinGecko.
Phantom Wallet Acquires Bitski
Phantom’s rising popularity coincides with the news of its acquisition of the web3 browser extension Bitski, amid increasing demand for user-friendly decentralized applications (dapps).
The financial details of the deal remain undisclosed.
Phantom plans to integrate Bitski’s browser extension into its wallet to simplify onboarding and improve user experience. Bitski’s technology allows users to create wallets using just an email address, eliminating the need to manage phrases and private keys. Additionally, Bitski enables developers to embed wallet functionality directly into their applications, allowing users to interact with dapps without leaving the app.
Following the acquisition, Bitski products, including its wallet, will be phased out starting May 27. Bitski users will be able to obtain their private keys for self-custody. Phantom and Bitski are collaborating on a new product that will feature embedded wallets within Solana dapps to enhance user interaction and trust.
Summary Review: Phantom Wallet’s rapid rise in popularity, outpacing major platforms like Facebook and ChatGPT on Google Play, underscores its growing influence in the crypto space. Its strong performance on both Google Play and the Apple App Store, combined with its expansion to support multiple cryptocurrencies, highlights its appeal to a broad user base. The recent acquisition of Bitski further enhances its position by simplifying the user experience and integrating more seamless dapp interactions. These developments suggest a bright future for Phantom Wallet and could signify a bullish trend for Solana and other supported cryptocurrencies.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
