Phantom Wallet Shines with $1.25B Swapped in a Day and $150M in New Funding

• Phantom Wallet processed 10M transactions and $1.25B swaps in a day, showcasing unmatched scalability.
• Series C funding of $150M elevates Phantom’s valuation to $3B, fueling user-friendly features and innovation.
• With 15M active users and $20B in annual swap volume, Phantom leads as a secure, intuitive crypto wallet solution.

Phantom Wallet, a leading digital asset wallet, recently faced a massive surge in activity, processing over 8 million requests per minute. Despite initial challenges, the platform stabilized, enabling 10 million transactions and $1.25 billion in swap volume within a single day. This remarkable recovery highlights Phantom’s robust infrastructure and its ability to navigate unexpected demand surges.

Series C Funding Fuels Innovation

A $150 million Series C investment round was announced by Phantom. Sequoia Capital and Paradigm led the round, which raised the company’s valuation to $3 billion. Variant and Andreessen Horowitz also took part, demonstrating their belief in Phantom’s capacity for expansion.

This funding underscores Phantom’s mission to simplify crypto access and enhance user safety. CEO Brandon Millman emphasized that these resources will drive innovation, including the upcoming social discovery feature and streamlined peer-to-peer payments. Consequently, these developments aim to modernize consumer finance while attracting a broader user base.

Unmatched Market Performance and User Growth

Phantom currently boasts 15 million monthly active users, processing over $20 billion in annual swap volume. The wallet’s performance during late 2024 stood out, with trading volumes far surpassing competitors Coinbase Wallet and MetaMask. Notably, November saw Phantom briefly become the second-most popular utility app in Apple’s App Store.

Besides its growing user base, Phantom capitalized on market momentum as crypto valuations surged toward $4 trillion. The company’s ability to outperform competitors highlights its superior scalability and user-centric features. These metrics signify its position as a leading force in the digital wallet.

Phantom’s rapid growth and market achievements underscore its commitment to innovation. With $150 million in new funding, it’s well-positioned to enhance its offerings and support massive user activity. Moreover, its focus on intuitive features and secure transactions resonates with users seeking reliable crypto solutions.