Phantom has added support for the Layer 1 Sui blockchain, expanding its reach to millions of non-custodial wallet users. This marks the latest step in its broader multi-chain strategy.
Enabling Sui Transactions and dApp Access
With this integration, users can now manage their SUI tokens, access native assets like BLUE and SEND, and interact with decentralized applications such as Suilend, Navi, Aftermath, and Bluefin.Sui’s Growing Presence in Crypto
Sui, a Move-based blockchain developed by Mysten Labs, has gained traction for its object-centric transaction model. Over the past year, SUI's market cap has surged more than 500% to $11 billion, positioning it within the top 20 cryptocurrencies. The blockchain now holds over $1.6 billion in total value locked (TVL) and has processed more than 7.5 billion transactions.Phantom’s Multi-Chain Evolution
Originally a Solana-focused wallet, Phantom has steadily expanded its ecosystem:Key Highlights:
- April 2023: Introduced support for Ethereum and Polygon.
- December 2023: Integrated Bitcoin, including Ordinals and BRC-20 tokens.
- November 2024: Added Base, Coinbase’s Layer 2 network.
- Future Plans: Support for the upcoming Monad blockchain.
CEO’s Perspective on the Expansion
Phantom CEO Brandon Millman highlighted Sui’s scalability and user experience as key factors for its inclusion. “Sui’s focus on scalability aligns perfectly with Phantom’s mission of making crypto more accessible,” Millman said.Market Impact
Phantom recently secured $150 million in a Series C funding round, reaching a $3 billion valuation. Despite ongoing speculation about a potential airdrop, the company has clarified that it has no plans to launch a token.
Read the full article on
theblock.
