Cryptocurrency applications are gaining significant traction as the bull market advances. Bitcoin continues its effort to close above $67,000, while SOL Coin has once again surpassed the $170 mark. Phantom Wallet’s recent success is likely to further bolster Solana‘s position in the market.
What is Phantom Wallet’s App Store Performance?
The cryptocurrency wallet Phantom Wallet has experienced a notable rise in the Apple App Store rankings, climbing to the third position in its category, trailing only behind Google and Google Chrome Apps. This surge in ranking could potentially attract a larger user base.
With increasing user interest in the Solana network, more individuals are downloading and using Phantom Wallet, which has helped elevate its app store ranking. The rising curiosity about the Solana network during the early phases of the bull market is promising for future growth.
Why is There Growing Interest in Solana?
Crypto analysts highlight that the interest is directed towards the Solana network, particularly since Phantom Wallet was originally launched as a Solana-exclusive wallet. Recently, it has expanded to support multiple networks. Evan Luthra commented on the Solana season’s potential impact, prompting investors to consider which SOL coins to acquire.
Popular crypto influencer Borovik points out that the increasing interest in Phantom Wallet mirrors a strong demand for SOL Coin among cryptocurrency investors. He enthusiastically noted that Phantom Wallet reached over 7 million monthly active users as of April 29, a milestone that even top competitors find difficult to achieve. For comparison, MetaMask boasts 10 million users.
Key Takeaways for Crypto Enthusiasts
– Phantom Wallet’s rise in App Store ranking suggests growing user adoption.
– The wallet’s success is closely tied to the Solana network’s increasing popularity.
– Over 7 million active users on Phantom Wallet highlight strong market interest.
– Analysts suggest monitoring app store rankings as potential indicators for market trends.
Currently, Phantom Wallet stands at 32nd in the overall Apple app store, while Coinbase is positioned at 288th. Opinions vary on the implications of this ranking. Crypto analyst Shear, for instance, interprets this as a future sell signal, planning to liquidate his holdings if both Phantom and Coinbase reach the top 10.
“These are my favorite indicators, and when both (Phantom and Coinbase applications) enter the top 10, I will be selling everything,” Shear stated.