- Phantom Wallet expanded its support to Sui, adding flexibility beyond Solana, Ethereum, and Polygon for managing digital assets.
- Phantom integrated with MoonPay, enabling seamless crypto purchases and instant withdrawals directly within the wallet for a better user experience.
Phantom Wallet, a popular crypto wallet in the Solana ecosystem, has just recorded its highest revenue ever. Phantom has already brought in $33 million in income in February 2025, just a few days before this month finishes.
🚨JUST IN: @phantom‘s monthly revenue hits a new all-time high of $33M in February with 8 days remaining in the month. pic.twitter.com/booLHk5giA
— SolanaFloor (@SolanaFloor) February 20, 2025
Phantom’s Journey to a New Record
Phantom has been keeping extending its range of services in recent times. The wallet formally included functionality for the Sui layer-1 blockchain on January 29, 2025. Having only lately operated on the Solana, Ethereum, and Polygon networks, this move makes it even more adaptable in supporting several ecosystems.
For ever more crypto-savvy users, this integration lets users handle SUI tokens and other assets straight through their wallet, hence offering ease and choice.
However, it’s not just technological expansion that is supporting this surge in revenue. Phantom effectively obtained a $150 million Series C financing round under the direction of Sequoia Capital and Paradigm on January 16, 2025.
This capital injection values the business at $3 billion. The money seeks to increase the user experience in handling their digital resources as well as widen the range of services provided.
Integration with MoonPay: Ease of Crypto Transactions
On the other hand, Phantom’s success is also supported by its strategic integration with MoonPay, as we have previously reported. Users of the Phantom wallet can buy some digital assets straight using their MoonPay balance through this relationship.
Moreover, users can promptly withdraw money to their bank accounts, therefore simplifying the transaction process. Increasing Phantom’s appeal among new users who might still be fresh to the realm of cryptocurrencies depends much on this kind of integration.
Security Issues and Phantom’s Response
However, Phantom’s journey has not always been smooth. A security researcher by the name of @CloakdDev claimed in January 2025 a possible flaw compromising user funds. The community became concerned about this allegation, but Phantom answered fast to say the story did not actually endanger user money.
The researcher nevertheless cautioned users to be cautious, though, by storing up their recovery words and weighing alternate wallets. For crypto wallets, security is still a major concern, hence, Phantom’s swift reaction like this demonstrates its will to keep users’ trust.
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