Phantom announced earlier this week that the wallet had finally broken over one million active users. An impressive feat for a wallet that has only been around for a couple of months.
Phantom operates as an online wallet for users to safely and easily “store, send, receive, stake and swap tokens on the Solana blockchain.”
With the recent popularity of non-fungible tokens (NFTs) over the past several months, Ethereum-based NFT platform OpenSea had enjoyed the lion’s share of NFT trading. At one point, the platform was eclipsing $1.5 billion in monthly trading volume. NFT mania has slowly shifted to other blockchains that allow for lower transaction fees, something that Ethereum does not currently offer.