The Hidden and Concerns Behind Web3 Super Unicorn PhantomAuthor: Zhou, ChainCatcher
The crypto wallet market in 2025 is witnessing a brutal battle for market share.
As the meme coin craze subsides, high-frequency trading users are flocking to exchange-based wallets with lower fees and stronger incentives. In the face of the closed-loop ecosystem of exchanges, independent players' survival space is continuously shrinking.
Against this backdrop, Phantom's performance has attracted attention. Earlier this year, it raised $150 million, pushing its valuation to $3 billion. Since Q4, the project has launched its own stablecoin CASH, a prediction market platform, and a crypto debit card, attempting to find new growth points outside of trading business.
$3 billion valuation, from starting on Solana to multi-chain expansion
Looking back at Phantom's development history, in 2021, the Solana ecosystem just exploded, on-chain
金色财经_·2025-12-19 11:13