Sui Ecosystem Welcomes Phantom Wallet: Unlock Multichain Capabilities

• Phantom Wallet, with 7 million monthly active users and 560 million on-chain transactions, now supports Sui, boosting its ecosystem’s functionality.
• Sui’s market cap surged 100% in a month to $10.8B; it’s now 8th in TVL at $1.5B.

The Sui Foundation has scored a major win by teaming up with Phantom Wallet, a powerhouse in the multichain cryptocurrency wallet space. This collaboration, announced on Dec. 5, marks Sui’s debut as the first blockchain outside Solana, Bitcoin, and Ethereum supported by Phantom. With 7 million monthly active users and over 560 million on-chain transactions year-to-date, Phantom’s integration brings substantial momentum to the Sui ecosystem.  

Phantom is celebrated for its robust feature set, including staking, in-app token swaps, and NFT storage. It also boasts multichain support and Ledger hardware wallet integration, making it a highly sought-after tool in the web3 industry. Sui’s inclusion in Phantom’s network is a critical milestone, as it is also the first blockchain built around the Move programming language to gain Phantom’s support.  

This development signals a broader trend of wallet providers and decentralized app (dApp) developers embracing multichain futures rather than focusing on siloed ecosystems. By adding Sui, Phantom solidifies its position as a forward-thinking player in the blockchain space.  

A “First-Class Wallet Experience” for Sui

Jameel Khalfan, serving as Global Head of Ecosystem at the Sui Foundation, underlined the importance of integrating Phantom Wallet into the Sui network. He described the development as a pivotal advancement for the Sui ecosystem, which now gains access to an advanced wallet equipped with features long requested by the community.

The integration of Phantom Wallet with Sui […] represents a giant leap for the Sui ecosystem,” said Jameel Khalfan. “Phantom Wallet is selective […] and we are proud to now be included.

The partnership offers users a reliable and secure wallet option that is available as a browser extension for Chrome, Firefox, Edge, and Brave. Mobile users aren’t left behind, as the integration extends to iOS and Android platforms. This makes it more accessible than ever for Sui participants to manage their digital assets seamlessly.  

Brandon Millman, Phantom’s CEO, expressed enthusiasm about the partnership, stating, 

We’re excited to bring Sui support to millions of Phantom users. Sui’s thoughtful approach to scalability and developer-focused solutions aligns with our commitment to high-performance blockchains. We look forward to building together and supporting their growth.

Growing Market Value and User Base

The timing couldn’t be better for Sui, whose market value has skyrocketed by over 100% in the past month. The blockchain’s market cap now stands at an impressive $10.8 billion, reflecting surging interest in alternative Layer 1 blockchain.  

Sui has also climbed the ranks in total value locked (TVL), now standing eighth among blockchain networks with $1.5 billion, according to DeFiLlama. This growth underscores the blockchain’s increasing appeal in a competitive market.  

The Phantom Wallet integration is expected to further elevate Sui’s profile by enhancing its wallet functionality and attracting retail participants. Both desktop and mobile users will benefit from streamlined access to their assets, with the integration promising a more user-friendly experience.