Phantom Wallet Announces New Support For Ethereum & Polygon!
Expanding To ETH & Polygon
Phantom, the leading crypto wallet in the Solana ecosystem recently announced on Tuesday that it will be expanding its system to add support for rival blockchains Ethereum and Polygon.
1/ Coming soon: one wallet for everything.
— Phantom (@phantom) November 29, 2022
The company explains through their Twitter that Phantom had already been planned with the intent of “going multichain towards Ethereum” and that they have been working on months to make this happen as well as the partnership with Polygon.
This new change aims to help provide Phantom users the ability to interact with the three largest blockchain ecosystems in one location and address.
“It’s clear that self-custody is now more important than ever. But the multichain future feels uncertain with how people are expected to manage different wallets on different chains.” The team wrote.
Collapse Of Solana
This expansion to other blockchains may have just been one of the best decisions Phantom has recently made considering the state of the Solana blockchain at the moment.
Since the collapse of FTX earlier this month, the Solana token has been reaching new lows, with the cryptocurrency now below other tokens like Polkadot, Polygon, Cardano, and even DogeCoin.
The past few months Solana NFTs have also been seeing their growth plummet. According to data from Nansen, the total number of returning buyers for Solana NFTs have reduced immensely, falling to an all time low since 2021.
With the seemingly lack of growth in Solana, Phantom’s decision to spread to more popular blockchains like Ethereum or experimenting in blockchains like Polygon could help them from falling behind from other crypto wallets like MetaMask.