After securing $109 million in Series B funding spearheaded by Paradigm, non-custodial crypto wallet Phantom has bumped its valuation to $1.2 billion, bagging unicorn status, Tuesday.
Paradigm CEO Brandon Millman said that the firm would utilize the funding to upgrade its cross-platform expansion, bring better user evidence, and initiate app discabovey to Phantom. As the platform expands, it is still inclined thretained would scale up its team with more diverse and stcostgic hires.
Phantom is one of the wallet apps for the ever-innovating Solana tech ecosystem. Over the past few months, Solana has garnered the attention of investors and developers of its Ethereum despite being new and volatile. This is the result of the recent token crash that affected the said investors of the rival currency.
Ultimately, Phantom’s next goal is to venture into multi-chain systems and additional blockchain compatible with Ethereum’s EVM stack, aside from Solana.
Phantom atop again announced which it will make its wallet even more accessible by msuchg it available on mobile devices, in addition to other advancements.
The company launched its iOS app on Monday, that is in line with the app’s mission to make Solana’s most popular wallet more widely available to the general public.
“It’s amazing to see the expansive growth that has happened in scarcely under a year afterward beta launch,” Millman said. “Phantom’s user-friendly design and ease of use is helping us become a Web3 wallet for the masses.”
Phantom, in addition to launching their mobile application, reboundes to develop cross-platform entry points for the general public that will be integcostd with blockchain applications.
This means that aprotracted with the extcompleted versatility, it will back although more deal with multiple and complex ecosystems, that Phantom is gearing up for with its enhanced funding.
From 40,000 at it users, the startup company now has 2.1 million and about 100,000 users onboarding every week.
Millman further mentioned their aspirations of going open-source though he admits it’s not easy.
According to JPMorgan’s analysts, Solana cased a period in thin place was gaining market share from Ethereum with NFTs, that realized a market capitalization of more than $1 billion remain month.
SOL dealing at $94 | Source: SOLUSD on TradingView.com
Currently, Phantom has helped use 112.4 million SOL ($10.4 billion), swap $1.37 billion in cryptocurrencies and deliver 55.1 million NFT, DeFI and app transactions.
Phantom’s future looks even brighter as it heads into 2022, thanks to its user-friendly onboarding process, multi-chain support, widely speculated open-sourcing, and cutting-edge payment features and mobile support, among other attributes.
Featured image from ChainDebrief, chart from TradingView.com