Phantom Wallet Stays on Solana with Cash & Terminal, No IPO
Phantom Wallet confirms it will remain on the Solana ecosystem with no plans for a native blockchain or an IPO.
The crypto wallet provider stays privately funded by a16z, Paradigm and Sequoia to focus on user experience.
Key initiatives include the Phantom Cash stablecoin, Phantom Terminal trading platform for professional and institutional trading, and Phantom Connect for cross-platform access.
It also integrates perpetual contracts via Hyperliquid to enhance trading tools.
Phantom Wallet serves over 15 million monthly active users and is valued at about $3 billion.
Traders can expect improved onboarding and trading features rather than a new chain or public listing.
Bullish
Phantom Wallet’s commitment to Solana and the rollout of new products such as the Phantom Cash stablecoin and Phantom Terminal platform will likely boost on-chain activity and SOL demand. Maintaining private funding avoids dilution and market volatility linked to an IPO. The integration of perpetual contracts via Hyperliquid and enhanced onboarding tools can attract new traders, supporting SOL’s utility. In the short term, the market may see modest gains as traders respond to these feature launches. Over the long term, sustained ecosystem investment and improved user experience could underpin steady growth in SOL usage and price.