On Thursday, the Web3 Phantom wallet integrated the Sui blockchain into its application. This novelty has given new upward momentum to the SUI, which has increased by more than 8% in the last 24 hours.
Phantom integrates Sui into its wallet
This week, the Phantom cryptocurrency wallet added a new network to its list of supported blockchains, with Sui integration :
wen sui? soon 🌊 👻 pic.twitter.com/o7MtPMkfpS
— Phantom (@phantom) December 5, 2024
Brandon Millman, CEO of Phantom, expressed his excitement about the collaboration:
We are pleased to offer Sui support to millions of Phantom users. Sui's thoughtful approach to scalability and developer-focused solutions align with our commitment to high-performance blockchains. We look forward to collaborating with them to support their growth.
💡 What is our opinion on the Phantom cryptocurrency wallet?
In the wake of this announcement, the SUI token recorded an increase of approximately 8.5% over the last 24 hours, and is now trading at nearly $4.2. Since August, the asset has now increased by more than 625%:
SUI price in weekly data
While the asset is ranked 20th in the ranking of cryptocurrencies, its blockchain is in 8th place among decentralized finance (DeFi) networks. With almost $1.7 billion in total value locked (TVL), this amount has increased more than 5x since the previously mentioned low point last August.
👉To go further — Learn more about the architecture of the Sui blockchain
For its part, Phantom claims more than 7 million monthly active users. While the Sui ecosystem seems to be in full swing for several months, it will be interesting to see if this new partnership can further boost this interest.
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