With the announcement, the well-known Solana wallet Phantom is one step closer to a multichain future.
What is the Solana Phantom wallet?
Phantom is a digital wallet specifically designed for Solana and Ethereum. Phantom is a digital wallet remained for DeFi, making it secure and simple to store, send, get, collect, and swap tokens on the Solana blockchain.
Phantom said in a recent post on X that it will launch support for Bitcoin. This interesting development comes after the announcement of a unique Ordinal Mint event, which has piqued the interest of Bitcoin and NFT fans alike.
The Ordinal Mint event will begin on June 27th and go on July 1st. During this time, users will mint NFTs directly on the Bitcoin blockchain using a Phantom. This functionality, known as Ordinals, has lately gained popularity in the cryptocurrency industry. Ordinals, unlike typical NFTs, are directly written on individual Satoshis (Bitcoins smallest unit), resulting in a one-of-a-kind and limited digital collectible.
Users of the Phantom wallet were informed that during the first mint event, they would just need to pay the usual Bitcoin network fees. The wallet advises users to maintain a modest amount of Bitcoin (around $10–20) in their native Segwit address, which is a special type of Bitcoin address format, to guarantee seamless transactions.
Phantom demonstrates an understanding of the interconnectedness of the crypto ecosystem
To be fair, Phantom main reputation has always come from its Solana features. However, based on the latest developments surrounding it, the wallet currently appears to have more ambitious objectives. As a potential one-stop shop for clients managing cryptocurrency assets across multiple blockchain, Phantom has established itself by supporting both Bitcoin and the Ordinals.
Phantom combines the best of Solana, Ethereum, and Bitcoin. This means you can add to your SOL, ETH, and BTC bags, acquire the latest NFTs and Ordinals, easily transfer tokens across chains, and explore all the best DeFi apps from the most user-friendly wallet. Assuming Phantom is determined to stay relevant and operational.
So, it remains to be seen whether this reflects a wider trend of well-known wallets adding multichain support. But one thing is for sure: Phantom actions point to a growing understanding of how interconnected the cryptocurrency economy is.
