Phantom wallet adds support for Layer 1 Sui in latest multi-chain push

Popular web3 wallet Phantom launched support for the Sui blockchain on Wednesday, becoming the fourth Layer 1 with access to its claimed 15 million monthly active users.

The integration lets users manage their SUI, access Sui-native tokens like BLUE and SEND, swap assets and interact with dApps like Suilend, Navi, Aftermath and Bluefin, according to a statement shared with The Block.

Phantom first unveiled the plans in December without announcing an official date for the integration. Wednesday’s launch makes Sui the only Move-based chain to be fully supported on the platform, so far.

“The launch of Sui as the first Move-based chain on the Phantom Wallet validates what the community has accomplished in the past year,” Sui Foundation Managing Director Christian Thompson said. “Sui’s time has arrived, and it is clear that the ecosystem is ready to onboard the next billion users into crypto.”

Developed by Mysten Labs, Sui's technological architecture differentiates it from traditional blockchains. The platform employs an object-centric model, enabling parallel transaction processing and efficient state updates. Like Aptos and Movement, Sui utilizes the Move programming language originally developed at Meta by a team composed of people from Facebook’s now-defunct Diem stablecoin project.

Sui has emerged as the leading Move programming language-based chain over the past year, rising more than 500% to a market cap of $11 billion, placing it inside the top 20 cryptocurrencies by that metric. The SUI token is currently trading for $3.69, down 3.2% over the past 24 hours, according to The Block’s Sui Price Page .

Sui has also climbed into the top 10 blockchains by total value locked, with deposits of more than $1.6 billion, according to DeFiLlama data , having processed over 7.5 billion transactions in 2024. It is currently the second-largest destination for Ethereum outflows after Solana, per Wormhole data.

Phantom’s multi-chain push

Phantom started out as a web3 wallet focused on the Solana ecosystem in 2021, capturing the bull run-fueled wave of adoption for the emerging blockchain at that time.

However, its multi-chain strategy began in April 2023, expanding support to the Ethereum and Polygon blockchains. A Bitcoin integration followed in December 2023, adding support for the foremost cryptocurrency, Ordinals and BRC-20 tokens. Most recently, Phantom rolled out access to the Coinbase-incubated Layer 2 network Base last November, helping it to facilitate a total of 850 million transactions in 2024. It also plans to support the much-anticipated Monad blockchain upon launch.

“When we transformed Phantom into a multi-chain wallet in 2023, we did so with the commitment that only the most capable chains would be integrated into the app,” Phantom CEO Brandon Millman said on Wednesday. “Sui’s focus on scalability and its superior user experience aligns perfectly with Phantom's goal of making crypto accessible for everyone.”

Earlier this month, Phantom announced that it had raised $150 million in a Series C round led by Sequoia and Paradigm at a $3 billion valuation. Despite persistent rumors of an airdrop amid the deployment of social features on the app in December, Phantom clarified that it has no plans to launch a token of its own.