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Friday, August 12, 2022
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    HomeAltcoinSolana’s Phantom Wallet Raked In $109 million From Its Series B Funding

    Solana’s Phantom Wallet Raked In $109 million From Its Series B Funding

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    Phantom pockets, a Solana native tokens pockets, has simply introduced the completion of a Collection B funding spherical during which it raised $109 million. The funding spherical which was led by Paradigm and had a16z Variant, Solana Ventures, and Soar Capital in participation sees the crypto pockets attain unicorn standing with a $1.2 billion valuation. Together with this announcement, Phantom additionally revealed that the cell model of the Solana pockets was now out there for iOS customers.

    Phantom pockets publicizes $109 million funding spherical and iOS model

    In a blog post at this time, Phantom revealed that it had accomplished a $109 million Collection B findings spherical led by Paradigm. The funding spherical additionally attracted enterprise capital corporations like a16z, Variant, Solana Ventures, and Soar Capital. With the completion of the funding spherical, Phantom now has a valuation of $1.2 billion.

     Right now, we’re excited to announce Phantom’s $109M Collection B led by Paradigm with participation from previous traders together with Andreessen Horowitz (a16z), Variant, Solana Ventures, and Soar Capital, the submit mentioned.

    The submit identified that Phantom was one of many fastest-growing crypto wallets having gained greater than two million lively customers simply six months after launch. It additionally revealed that the iOS model of the Solana pockets was now out there for obtain. It provides that the Android model of the pockets can be launched within the first half of 2022.

    The CEO of Phantom, Brandon Millman, maintains that this funding spherical will assist the pockets speed up the expansion of the Net 3 ecosystem on Solana. The corporate has in depth plans to capitalize on the quickly rising DeFi and NFT market on the Solana blockchain by means of 2022. Finally, Phantom plans to turn into a gateway to Net 3 for a number of blockchains exterior of Solana. Phantom has help for Ethereum and EVM appropriate blockchains lined up in its sights.

    Phantom’s success is nice information for Solana

    Phantom has been a big a part of the success of the Solana blockchain to this point. Per information from Defillama, Solana ranks because the sixth largest DeFi chain by whole worth locked (TVL), with over $8.71 billion staked. Phantom claims to have performed an enormous position in being the gateway by means of which the proof-of-history blockchain reached this determine.

    Phantom pockets can also be accompanying Solana NFTs to the most important NFT market within the crypto business, OpenSea as lately leaked photos point out. The worth of SOL appears to be reacting positively to the Phantom announcement. On the day, SOL is up 2.62% buying and selling at round $97.46. Regardless, SOL has traded poorly this January as its worth efficiency has been stricken by community congestion and the broader market crash. SOL is down round 42.8% 12 months to this point.

    Disclaimer

    The introduced content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.

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