Phantom taps Solsniper as it targets expansion beyond wallet services

Crypto wallet provider Phantom has acquired Solsniper, the AI memecoin trading and analytics platform built on the Solana blockchain. 

The acquisition was announced on August 4, marking Phantom’s first big step into active trading infrastructure. Solsniper, launched in 2021, has gained traction for its high-speed tools that let users monitor token launches and wallet activity, and track market movements.

As part of the acquisition, the full Solsniper team will join Phantom in operations. The firm added that the Solsniper platform and website will remain operational for now, with new features and updates expected in the coming months.

The deal is the latest in the string of acquisitions by Phantom this year and comes as part of a broader strategy to scale its operations.

From wallet to advanced trading interface

Phantom has long operated as a wallet service provider, starting out on Solana before adding support for other networks like Ethereum and Polygon. 

The platform already offers token swaps, staking, and NFT storage, but is now aiming to evolve into a full-featured platform built for both beginner and advanced traders.

The Solsniper acquisition fits into that strategy, with the platform offering tools like sniping, token launch alerts, and wallet activity tracking. Phantom also hinted that more acquisitions will follow in the coming months, and the bid to expand its product suite comes as the memecoin ecosystem continues to blow up.

Memecoin market still booming 

As its peak this year, in July 2025, the total memecoin market cap hovered around $85 billion, with daily volume reaching $17.2 billion, according to CoinMarketCap.

The figure has since dropped to its current valuation of about $65 billion, but activity hasn’t vanished. Solana-based launchpads like LetsBonk are still dominating new token launches and trading, even with cooling hype around others like Pump.fun.

LetsBonk now accounts for 57% of Solana’s memecoin activity. In the past 24 hours alone, it’s seen over 18,000 new tokens deployed and processed more than $507 million in volume, according to data from Dune Analytics.

Meanwhile, tokens like Pudgy Penguins (PENGU), Bonk (BONK) and Trump (TRUMP) remain the three leading memecoin tokens issued on the Solana blockchain by market capitalization, with it’s ecosystem of quick-to-deploy and easy-to-use UX/UI by platforms like Pump.fun shaping the crypto-meme narrative.

Still, traction is cooling. Daily active addresses in the ecosystem have fallen from a January peak of 433,000 to around 148,850, signaling a slowdown in broader retail engagement.