Solana Enters Spotlight As BTC Ordinals Goes Live On Phantom Wallet
Highlights
- Solana's Phantom Wallet has introduced Bitcoin Ordinals integration
- The integration has further enhanced the growing appeal of Solana
- Solana's broad expansion is showcasing in its DeFi TVL
The Solana network is witnessing revival as Phantom Wallet introduces Bitcoin ordinal support on its platform. In a significant announcement on X, Phantom says Bitcoin support is now out of beta and available to everyone.
The Bitcoin Ordinals Integration
With the unveiling, users no longer need to rely on centralized exchanges or unfamiliar wallets to collect Ordinals as everything can now be done seamlessly and directly on Phantom. According to the platform, its team of developers have dedicated themselves to enhancing the Bitcoin experience since beta’s debut in December 2023.
Notably, users will experience enhanced integrations on the platform and are free to buy and sell Ordinals and BRC-20s through a variety of apps including Magic Eden, Atlas 3, Ordinals Wallet and UniSat. Others are BeFi Labs, Matrica Labs, Ordiswap, Hello, and Gamma.
Solana is proving to be an attraction to these platforms given its low cost and high speed network.
Recently, the online payments giant PayPal expanded its stablecoin, PYUSD, to the Solana network. Although PayPal initially launched on the Ethereum blockchain, the Solana adoption is a big leap in expansion for the online payment platform.
Solana also profits in credibility as far as the payments processing industry goes. These benefits has helped in shaping its DeFi ecosystem with Total Value Locked (TVL) jumping to $10.18 billion, up from $3.8 billion in January
Comprehensive Crypto Management on Solana Phantom Wallet
Some significant key features that users of Phantom Wallet can hope to enjoy include recursive inscriptions such as those from Gamma. There is also the ledger compatibility. With this, the mobile app and browser extension now support connecting a ledger device, allowing users to securely manage their Bitcoin, Ordinals, and BRC-20s in one account.
Furthermore, the Collectibles tab lets users discover and manage rare sats, check total sat amounts, and view “satributes” for each UTXO. This enables the sending of rare sat UTXOs with just a few clicks. Phantom also offers simple address management, enabling Native Segwit, Taproot, or both. Thus, users can also view rich Ordinals metadata, including key details like sat number and inscription ID.
With this comeback, Phantom simplifies the process of transferring and buying Bitcoin instantly. Users now have the convenience of managing Solana, Ethereum, and Bitcoin all in one place, offering a comprehensive and streamlined experience for all their crypto needs.
Read More: Spot Ethereum ETF Issuers Asked by SEC To Submit Updated S-1 Filings By Friday
- Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B
- Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana
- ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks
- El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset
- Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
