Phantom Wallet to End Sui Support on Sept. 24 Amid Sharp 82% TVL Plunge

Phantom Wallet has officially announced it will end Phantom Sui support on September 24, 2026, giving holders less than five weeks to act.

The decision comes as Sui’s DeFi total value locked (TVL) has cratered 82% from its peak, reinforcing concerns about capital flight from the Layer-1 network.

Phantom Ends Sui Integration After Just 20 Months

Phantom added native Sui network support in late 2024. The rollout came amid Sui’s rapid TVL growth, which climbed to a peak of approximately $2.58 billion in October 2025.

That growth phase proved short-lived. According to DefiLlama data, Sui’s TVL has since fallen to roughly $469 million, an 82% collapse from that peak.

The sharp contraction appears to have made continued Phantom Sui support less viable from an infrastructure standpoint.

That confidence had institutional backing at one point. Coinbase’s launch of Sui staking services signalled growing infrastructure commitment to the network.

This comes with the Coinbase Sui Staking and Hashi Testnet Launch signalling growing institutional interest just months before this reversal.

According to Phantom’s official help guide, after September 24, the wallet will no longer display Sui balances, support Sui transactions, or show Sui in its network list. Importantly, user assets are not lost.

They remain on the Sui blockchain and are fully accessible via any compatible wallet using the same recovery phrase. Phantom recommends Slush (slush.app) as the Sui Foundation’s preferred alternative.

For those preferring to stay on Phantom, the wallet has waived its own fee on cross-chain swaps from native SUI to wrapped SUI on Solana until the deadline. Network and exchange fees still apply.

The timing stands in sharp contrast to earlier bullish momentum. SUI Price Outlook After CME Futures Launch had positioned the network as a rising contender, with futures activity fuelling breakout expectations.

What This Means for SUI Holders and Layer-1 Investor Sentiment

Wallet delisting decisions tend to follow sustained activity and liquidity declines.

Phantom has separately ended support for Monad, pointing to a broader strategic cleanup in favor of its highest-traffic networks, Solana, Ethereum, Base, and Bitcoin.

For SUI investors, the Phantom Sui support exit adds near-term access friction at a moment when the network is already battling reduced developer activity and capital outflows.

Peter Brandt had flagged a potential SUI price recovery earlier this year based on technical signals, but the on-chain data since then has complicated that outlook.

As CoinGape reported, Peter Brandt’s SUI Price Rally Prediction came when SUI was rebounding sharply from lows near $0.90.

The network’s failure to sustain those gains makes the current wallet exit a more significant signal for holders reassessing exposure.

That said, Sui retains technological strengths. Its Move-based architecture, parallel execution model, and growing institutional product pipeline, including ETF exploration in select markets, remain active narratives.

Recovery will depend on whether new applications, stablecoin growth, or renewed capital inflows can reverse the TVL trend before further infrastructure partners follow Phantom’s lead.

Holders currently using Phantom for Sui assets should treat the September 24 deadline as firm.

Missing it does not mean funds are lost, but it will require importing credentials into a compatible wallet to regain access.

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