Phantom Wallet expands to Sui network in pursuit of multichain dominance

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Key Takeaways

Phantom Wallet has expanded to support the Sui network, adding to its existing support for Bitcoin, Ethereum, Polygon, and Base blockchains.
Sui’s value has increased by over 100% in the past month, attracting interest in alternative Layer 1 blockchains.

Phantom Wallet has expanded support to the Sui network as part of its move toward becoming a multichain wallet.

Phantom Wallet, initially known as a Solana-exclusive wallet, has now evolved into a multichain platform, expanding beyond Solana, Bitcoin, Ethereum, and Polygon to now include Sui.

“The integration of Phantom Wallet with Sui represents a giant leap for the Sui ecosystem,” said Jameel Khalfan, Global Head of Ecosystem at the Sui Foundation. “Phantom Wallet is selective about which chains they support, and we are proud to now be included among this notable group.”

The expansion comes as Sui’s value has increased by over 100% in the past month, driving the blockchain to a market cap of $10.8 billion amid growing interest in alternative Layer 1 blockchains.

Sui now ranks eighth among blockchain networks in terms of total value locked (TVL), with $1.5 billion, according to DeFiLlama data.

Phantom CEO Brandon Millman expressed support for Sui’s technical capabilities: “Sui’s thoughtful approach to scalability and developer-focused solutions aligns with our commitment to high-performant blockchains.”

The wallet integration, available through both browser extension and mobile app, is set to enhance wallet functionality for Sui users while potentially attracting new retail participants.