Crypto wallet Phantom adds Bitcoin support in addition to Solana, Ethereum, and Polygon

What’s new? Phantom crypto wallet has added support for the Bitcoin network, and users can now trade, transfer, and store bitcoins, tangible tokens based on the BRC20 standard, as well as non-fungible tokens created using the Ordinals protocol. The feature is currently in beta testing.

Source: Twitter.com

What else is known? Phantom, a multi-network wallet for working with decentralized financial applications, was launched on the Solana blockchain in April 2021, already seven months later it passed the 1 million active users mark. In July of the same year, the team raised $9 million in funding led by venture capitalist Andreessen Horowitz, with participation from the Solana Foundation and Ethereum Foundation.

In February 2022, Phantom raised another $109 million to develop a mobile app on the Android OC in addition to the already-launched iOS version. The round was led by the venture capital arm of developer Solana. The Android wallet was unveiled two months later. The product is also available in the format of a browser extension.

In August, the developers presented a solution for instant authentication of users using an address on the Solana network.

Since the end of last year, Phantom, in addition to Solana, has supported Ethereum and Polygon networks. Bitcoin became the fourth supported blockchain for the wallet.

Bitcoin NFTs are currently in high demand. According to CryptoSlam data as of December 21, Bitcoin is overtaking its main competitors, Ethereum and Solana, by a significant margin in terms of daily trading volume of non-fungible tokens: the networks’ figures are $41,5, $12,3, and $9,4 million, respectively. The top 3 in this metric are exclusively collections on the bitcoin blockchain.

Earlier this month, the OKX crypto exchange’s NFT marketplace, which supports bitcoin NFTs, significantly overtook industry leaders such as Blur and OpenSea in terms of daily trading volume, which do not allow transactions with such assets.

US Department of Commerce has recognized bitcoin NFTs as cyber threat

Experts referred to the statements of the Bitcoin Core client developer and included the vulnerability in the national registry

Read more

The Solana network itself is also experiencing explosive growth: in two months, its popularity on Google grew by 250%, and the native token SOL displaced the XRP token from fifth place in the cryptocurrency ranking. At the time of writing, its capitalization exceeds $37 billion. The asset is trading on Binance at $86,76, having added 11,6% over the day.