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Cryptocurrency applications are reaching wider audiences and gaining strength as the bull market progresses. The Bitcoin price continues its struggle to close above $67,000. Meanwhile, SOL Coin has surpassed the $170 threshold again. Phantom’s recent success could be supportive for Solana.
Phantom Wallet and the App Store
The cryptocurrency wallet Phantom Wallet has achieved a significant upward trend in the app store. It has climbed to the third position in its category on the Apple App Store, right behind Google and Google Chrome Apps. This could be a significant signal, potentially attracting more users.
As more users show interest in the Solana network, they install and use Phantom Wallet, which boosts its ranking. The intense interest in the Solana network during the early stages of the bull market is encouraging for the coming months.
Interest in the Solana Network
Crypto commentators note that the interest is directly flowing into the Solana network, considering that Phantom Wallet was initially launched as a Solana-exclusive wallet. Months ago, this self-custody wallet added support for different networks. Evan Luthra wrote about this;
“The SOL season looks like it will be huge! Which SOL coins should I buy?”
Popular crypto figure Borovik said that the increasing interest in the wallet application reflects a strong appetite for SOL Coin among crypto investors. He excitedly mentioned that Phantom Wallet surpassed 7 million monthly active users on April 29. This is directly related to the interest in the Solana network, and 7 million active users are numbers that competitors can only dream of. Even the most popular wallet application, MetaMask, has 10 million monthly users.
In the overall Apple app store, Phantom Wallet ranks 32nd, while Coinbase is in 288th place. There are different perspectives on this situation. For example, crypto analyst Shear suggests that this could be a sell signal in the future. He emphasizes that he will sell everything when both (Phantom and Coinbase applications) enter the top 10.
“These are my favorite indicators, and when both (Phantom and Coinbase applications) enter the top 10, I will be selling everything.”
