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Solana Wallet Phantom Acquires to Expand Trading
Phantom, the most popular Solana-based crypto wallet, has announced it has acquired Solsniper, a fast meme coin trading platform on the Solana blockchain
ContentsPhantom Expands Vision Beyond Wallet ServicesSolsniper Will Continue to Operate IndependentlyStrategic Moves Ahead of Meme Coin Market GrowthThe transaction will be an essential part of Phantom’s transformation to a more generalized crypto infrastructure platform.
Phantom has officially acquired its original X (previously Twitter) account, regarding the vehementness and accuracy of Solsniper in tracking and trading tokens. The platform also provides real-time analytics and wallet monitoring, making it a hit with traders who are doing business in Solana’s fast-growing meme coin sector.
Phantom Expands Vision Beyond Wallet Services
Phantom came on stream in 2021 as an easy-to-use Solana wallet. Because of its design and protections, it soon shot to the top of the list of the most popular wallets. Subsequently, it added support to the Ethereum and Polygon networks. The company is currently going beyond its initial wallet product.
Through the acquisition, Phantom seeks to create a complete crypto stack. The company would not only target the asset holders but also active traders. The capacity to react to new token launches within seconds is possible when it comes to Solsniper, as it provides the kind of tools that are needed in a fast environment.
In February this year, Phantom secured a Series C investment of $150 million from Sequoia Capital and Paradigm. That capitalization placed the company’s market value at $3 billion and indicated a positive means of expanding its services.
Solsniper Will Continue to Operate Independently
Nevertheless, even after the integration, Solsniper will continue to exist as an independent platform. Phantom assured us that it would not close off or instantly combine Solsniper with its key application. However, existing users can use Solsniper with no modification.
Future updates and feature rollouts will likely be in the coming months. Phantom will improve on Solsniper in terms of the user experience that attracts active meme coin traders. The platform can be characterized by liquidity tracking, whale wallet tracking, and fast trade execution.
Strategic Moves Ahead of Meme Coin Market Growth
The meme coin market of Solana will develop rapidly in 2025—launchpads such as Pump. Fun have made it easier to create tokens and trade them. Pump. Fun had a recorded trading volume of more than 3 billion in January alone.
The increase has resulted in an increased demand for quicker, more efficient tools. Solsniper’s acquisition implies that Phantom is ready to tackle the needs. It also follows Phantom’s previous acquisition of SimpleHash, a cross-chain NFT and token metadata provider, in February. In combination, these acquisitions establish a Phantom-branded full-stack trading and data ecosystem.