MEXCSolana’s Phantom Wallet Sets Record Straight on Airdrop Rumors
Highlights
- Phantom Wallet said it has no plans for a native token
- The Solana wallet said it will prioritize social enhancements to bring more people to crypto
- Solana price is up, indicating the update is not impacting investor sentiment
The Solana Phantom Wallet has dazzled members of its community with a new revelation regarding its much talked about native token. Prior to this time, different influencers on crypto X have been publicizing how the non-custodial wallet had plans to launch a token with a planned airdrop for users. In the new update on X, Phantom Wallet said it has no plans to launch a token.
Phantom Wallet Squash Airdrop Plans
The non-custodial wallet said the it is thrilled with the enthusiasm of its users regarding the token’s prospects. However, the protocol said rather than focus on its own token, it is rather working to simplify how users share and discover new assets on its platform.
It directly addressed the PHNT asset speculation, saying “we do not have any plans to launch a token.” The wallet said it is working on social discovery with a special mission to help many discover and love the crypto industry.
We’re thrilled by the enthusiasm for following users on Phantom!
It’s a huge step for us toward making crypto more personal and user-friendly. By simplifying how you share and discover with friends, we aim to dramatically improve how users find new tokens and apps.
We’ve seen…
— Phantom (@phantom) January 3, 2025
This news update has triggered a mixed emotion among users. While some considered the update disappointing, others noted how important the update is to safeguard users from scammers. The update comes shortly after a Trust Wallet and BNB Chain’s crypto wallet security update.
Meanwhile, the Solana’s Phantom Wallet did not mention any specific effort regarding its social incentive for the community.
Impact on the Solana Ecosystem
The broader Solana ecosystem might suffer the brunts of this latest update as a Phantom Wallet. With a new token on Solana, the demand for SOL as liquidity asset and fas fee will soar, setting the coin up for growth.
This is even more needed with the ongoing Pump Fun SOL selloff on exchanges like kraken. The memecoin launchpad has continued to sell its generated SOL revenue as the most used memecoin launchpad in the broader industry.
Amid these updates and negative ecosystem shifts, the price of SOL has jumped 5.05% in 24 hours to $216.75. This shows the Phantom wallet update has fueled no negative impact for the coin.
- Will Crypto Market Rebound or Crash Ahead as 10X Research Tips Shorting Ethereum?
- Sam Bankman-Fried Says FTX Was “Never Bankrupt,” Crypto Community Reacts
- XRP ETF Coming This November 13 As Canary Capital Submits Updated S-1 By Removing Roadblocks
- Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- XRP Price Outlook as ETF Nears Possible November 13 Launch
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
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.
