Solana Wallet Phantom Is Getting Serious Investments

Solana wallet Phantom is getting serious investments. The wallet's developers have raised its total valuation to $1.2 billion.

Although the cryptocurrency markets have been in a downtrend lately, two blockchains have attracted attention in the past months when new records have come. AVAX and SOLANA had the highest values ​​in terms of both price and trading volume. Therefore, functional wallets in this network also received significant investments. The team that developed the Phantom wallet on SOLANA received a new investment of $109 million last week, reaching a valuation of $1.2 billion. Moreover, they achieved this with just a Chrome extension. Phantom, which is shown as a competitor to Metamask, also started its life as a Chrome extension and soon gained popularity. The wallet, which has 2 million monthly active users, states that it has reached 90 percent usage rate on the Solana network. The team made the iOS app available for download this week and will release the Android app later this year. The team, which wants to lay a solid foundation on Solana, also wants to scrutinize multi-network support.