Phantom wallet goes live on Base blockchain

Phantom Wallet has expanded its Ethereum layer-2 network Base developed by Coinbase as part of its multi-chain expansion plans.

After rolling out beta support for Base last month, Phantom announced on November 25 that the integration is now live, allowing all users to interact with the Base ecosystem.

The latest expansion is significant as Base is currently the largest Layer 2 blockchain in terms of total value locked and the sixth largest among all blockchains.

With the latest integration, Phantom users will be able to purchase Ethereum and USDC on Base and swap tokens between Base, Ethereum, Solana, and Polygon using debit and credit cards, Apple Pay, or Coinbase.

Additionally, users can interact with decentralized applications and non-fungible tokens across the underlying ecosystem through compatibility with ledger devices, automatic spam detection for malicious NFTs and tokens, and transaction simulation to flag suspicious activity.

The expansion follows the wallet provider’s recent acquisition of web3 security platform Blowfish. As reported by crypto.news, Blowfish was included in Phantom to improve protection against harmful dapps and bugs, using its technology that has successfully prevented over 2.8 million scams.

Meanwhile, Phantom has experienced some technical glitches in recent months. An update on November 13 caused an issue that prevented some iOS users from accessing their accounts. The bug reset the wallets and prompted users to re-enter recovery phrases. Many users reported losses, including one who claimed to have lost $600,000.

But demand for the wallet has increased amid the ongoing memecoin craze that has driven retail investors to decentralized trading platforms. Phantom recently surpassed Coinbase in Apple’s US App Store rankings.

The Memecoin craze has particularly attracted new investors to decentralized wallets like Phantom; These wallets offer access to meme coin markets on decentralized exchanges, although they are less beginner-friendly than centralized exchanges.

Phantom’s recent integration with Base, combined with the growing popularity of platforms like Clanker, an AI-powered token bot designed to distribute meme coins on Base, could fuel Ethereum (ETH) “memecoin craze,” according to Bankless co-founder Ryan Sean. Adams.

ghost insert base
farcaster opens fire on social media
Basic frameworks for AI agents
compared to clanker https://t.co/uoscoAZGeP

maybe ethereum will undergo the memecoin craze

— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) 25 November 2024