Phantom is a non-custodial blockchain wallet for accessing decentralised applications on the Solana blockchain. In addition to storing and managing tokens it also allows access to decentralised lending, liquidity, DEX and other applications, which makes it special. Thus, Phantom Wallet would be the Solana blockchain’s web cryptocurrency wallet that works in the same way as Ethereum’s MetaMask, but for applications on Solana.
The explosion of the Solana blockchain in the last year has driven the growth of the Phántóm Wállet. In fact, in less than a year, Phantom has managed to accumulate more than 2.1 million users in the last year, thanks to users being able to interact with Solana’s NFTs and DeFi in the same application. Compared to its inception, the user base has grown by 5,200%.
Taking a look at the daily users and daily transactions, we can see how the numbers are similars. Both daily trends look similar. If we focus on the last week belonging to this month of February and compare it with the numbers of last January, we can see that during last month the active users were growing from 158k daily active users to approx. 250k daily active users. However, since February the numbers started to drop down to 158k. The number of daily transactions has also dropped from a high of around 50M transactions per day on 25 January to 43M on the previous day of this analysis. So, it doesn’t look like there has been a big impact from the launch of the Phantom app.
We have seen how the Phántom Wallét app release has not had a surprising impact on the growth in the number of users and transactions. However, we have seen that we were coming from very high numbers in the last weeks before the launch. However, we have seen that, although active users have decreased, the users who are still interacting have become much more active, increasing the average number of transactions per user by more than 52%.