30s Summary

Phantom, a digital wallet app supporting cryptocurrencies and NFTs, especially within the Solana ecosystem, has become the second-most popular US utility app on the Apple App Store. It has surpassed known apps such as Amazon Fire TV and Google Chrome, though Google holds the top spot. Phantom’s rise parallels a surge in Solana’s decentralized apps (DApps), suggesting an increasingly mainstream interest in Web3 technology. However, Phantom recently faced an iOS update problem which resulted in some users being locked out of their wallets.

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Phantom, a digital wallet app, is now the second-most popular app in the Utility category on the Apple App Store in the US. This crypto wallet app has climbed its way up, beating out common apps like Amazon Fire TV, Google Authenticator, and even Google Chrome. Google continues to hold the top spot.

The current popularity of Phantom lies in its vast use within the Solana ecosystem, and its support for other networks and NFTs (non-fungible tokens). The app also has a fraud detection feature and is compatible with Ledger hardware wallets.

Phantom’s sudden rise in the App Store rankings suggests that the world of Web3 is going mainstream, according to an individual from the online community.

This rise comes parallel to a boom in decentralized apps (DApps) on Solana, which has resulted in record amounts of fee generation. For instance, on Nov 18, DefiLlama data showed that half of the top 10 fee-generating protocols were on Solana, such as Jito and the automated market maker Raydium.

Phantom, however, had to recently address an iOS update issue that locked some users out of their wallets. Users lost access to their funds due to app resets. Since Phantom is a non-custodial wallet, it doesn’t store users’ keys and couldn’t directly help recover lost funds. However, they encouraged affected people to engage with their support team.