- Solana crypto wallet Phantom has soared to the top of the iPhone charts.
- The crypto wallet has rocketed in growth alongside the memecoin craze.
- Phantom rose hundreds of places in just over a week.
Beginning as somewhat of a joke, memecoins have taken the crypto industry by storm, growing into a massive $100 billion market with over 13 million coins being made in 2024 alone.
The craze has surged Phantom, the go-to crypto wallet for Solana-based memecoins, to top app stores in the U.S., beating out WhatsApp and Instagram.
Solana’s Phantom Tops Charts
The crypto wallet is now number four in the U.S. Apple App Store and number seven in the world.
Phantom beat leading apps such as TikTok, WhatsApp, and Messenger – highlighting the immense popularity crypto is facing right now.
The crypto wallet has rocketed in growth alongside a resurgence in interest for memecoins and crypto as a whole.
President-elect Donald Trump has helped Bitcoin (BTC) surge in price following his bold promises of a crypto-positive administration.
At the same time, Elon Musk’s hiring for the Department of Government Efficiency has seen the abbreviated DOGE coin surge in price.
Phantom has risen hundreds of places in the charts in just over a week, jumping from 377th on Nov.12.
Phantom Development
The Solana-based crypto wallet, which now supports Ethereum (ETH), Bitcoin, and more, has seen a rapid rise in development.
In January 2022, Phantom raised $109 million in Series B investment led by crypto venture firm Paradigm . The investment was announced alongside its mobile app.
Last week, the crypto wallet shared that it had published an update for its iOS app to fix a bug that had been causing issues for several users.
The company had received criticism from some users who claimed they had lost their funds due to a bug within the app.
As Phantom prides itself on being a non-custodial wallet, the company is unable to help users retrieve any lost funds.
Unlike a custodial wallet, which holds and manages private keys on behalf of the user, Phantom just acts as a tool for interacting with the blockchain.
