Phantom Wallet surges in popularity, surpasses Facebook in Google Play

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As a researcher with experience in the cryptocurrency space, I find the surge in popularity of Phantom Wallet truly intriguing. The app’s impressive performance on both Google Play Store and Apple App Store, outranking giants like Facebook and ChatGPT, is a clear indication of its growing user base.

As a data analyst, I’ve noticed an intriguing development in the Google Play Store rankings in the United States. The Phantom Wallet app, which is popular for interacting with Solana’s web3 ecosystem, has overtaken both Facebook and ChatGPT in terms of popularity. This means that more users have downloaded and are actively using Phantom Wallet than these two well-known applications.

In the free download category, Phantom Wallet ranked 11th, trailing behind Cash App and Snapchat. Based on appfigures data, approximately 770,000 installations occurred in April. This number surpassed Facebook and ChatGPT from OpenAI’s language model in terms of downloads during that period.

As a crypto investor, I’ve come across Phantom Wallet, which initially was specifically tailored for holding just Solana (SOL) tokens. Yet, it has evolved over time to accommodate more popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC). So now, I can manage multiple assets within this self-custodial wallet.

Phantom Wallet shines on Apple App Store

The wallet app, Phantom, has once again made headlines for its impressive climb up the app store charts. Specifically, on May 19, it reached the third spot in the Apple App Store’s utility category, following closely behind Google and Google Chrome.

Over 7 million people used the platform actively in April, according to reports, which is frequently seen by the cryptocurrency community as an indication of increasing acceptance.

We hit a new milestone!

7 MILLION MONTHLY ACTIVE USERS đŸ€ŻđŸŽ‰

— Phantom (@phantom) April 29, 2024

As a researcher studying the recent trends in the cryptocurrency market, I’ve noticed an impressive surge in downloads of the Solana (SOL) blockchain platform. This uptick has fueled optimism among industry commentators, who posit that it could be a promising sign of a bullish trend for SOL. For instance, angel investor Evan Luthra shares this perspective.

⏱NEW DEVELOPMENT⏱— EvanLuthra.eth (@EvanLuthra) May 19, 2024

Currently, the token is priced around $168 on the market, representing a small gain of 1.35% within the past day and a significant surge of approximately 16.9% over the past month, as indicated by CoinGecko’s data.

Phantom Wallet acquires Bitski

The rising fame of Phantom is aligned with reports of their purchase of the decentralized browser extension Bitski. This occurrence comes as users increasingly seek simple dapp solutions.

Financial details of the deal remain undisclosed.

As a analyst, I would suggest paraphrasing it this way: I, as an analyst, would express it as: Phantom announced intentions to seamlessly incorporate Bitski’s browser extension into our wallet system. This integration aims to streamline the onboarding process and enhance overall user experience.

With Bitski’s innovation, users can easily set up wallets using only their email addresses, thereby bypassing the hassle of dealing with recovery phrases and private keys. Furthermore, Bitski offers developers the convenience of integrating wallet functionality into their apps, enabling users to engage with decentralized applications (dapps) seamlessly without having to switch between windows.

After the purchase is completed, Bitski’s offerings, including its wallet, will begin to be replaced starting from May 27. Users of Bitski will have the opportunity to retrieve their private keys for personal custody. It’s rumored that Phantom and Bitski are teaming up to create a new product. This product is said to incorporate wallets directly into Solana apps, aiming to boost user engagement and trust.

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2024-05-25 17:22