Phantom Flips TikTok, Google Gemini in App Store Rankings

Solana’s most popular crypto wallet application, Phantom, is finally making an impression in the charts, but not in the way you’d expect.

Finn Miller

Published: Nov 21, 2024 at 18:05

Phantom, Solana’s favorite wallet application, has entered uncharted territory and become one of the Apple App Store’s most popular applications.

Beating out some of the internet’s biggest apps, like TikTok, Phantom is working its way into the pockets of the masses as memecoin mania goes mainstream.

Historically, blockchain applications entering public mindshare are considered a cause for alarm. Will it be ‘different this time’?

Phantom Moves to 4th Position in App Store

For most of the Solana community, their journey into the network’s flourishing ecosystem begins with Phantom. Known for its simplistic interface and eye-catching design, Phantom has cemented its position as Solana’s most popular wallet among newcomers.

With Solana’s meme economy reaching critical mass and tokens like $CHILLGUY exploding into mainstream circles, newcomers are flocking to the Solana blockchain.

As a result, Phantom downloads are skyrocketing, causing the app to flip household names like TikTok and Google Gemini in rankings across all categories.

Currently, Phantom sits in 4th position behind Bluesky Social, ChatGPT, and Instagram’s Threads app.

Previously, newcomers typically entered the crypto space via centralized exchanges like Coinbase or Binance. Remarkably Phantom also leapfrogged the Coinbase exchange app in its rise to notoriety, indicating that new users are eager to jump straight into an onchain environment.

Phantom CEO and co-founder Brandon Millman remarked that the app’s success highlights a fundamental change to the crypto experience.

Instead of trying to mirror the TradFi brokerage experience, Millman implies that the onchain world is becoming a lot more welcoming and accessible.

Is This The Top? Or “Just The Beginning”?

While some declare this signals the start of a new crypto bullrun, survivors of previous cycles argue that the appearance of crypto apps in mainstream settings serves as a cautionary tale.

In December 2023, Pentoshi, a prominent crypto influencer, asserted that the Coinbase app reaching the top spot in App Store rankings was a definitive macro top signal.

While Phantom doesn’t yet have the same influence as Coinbase, its ascension to the top of the App Store charts could mean that markets are on shaky ground. However, Pentoshi also predicted that Phantom might front-run Coinbase to the top of the charts, which could signal a new paradigm of crypto adoption indicators.

According to Protos data, the Coinbase app’s popularity has typically preceded sharp drops in Bitcoin price throughout 2024.

coinbase app rank

However, market conditions are considerably different now. Following Trump’s victory in the U.S. Presidential Election, market participants anticipate a more crypto-friendly approach to the industry in 2025.

While crypto's explosive popularity might have OGs feeling fearful, experts agree that the Trump Administration bodes well for the industry. Phantom’s popularity suggests that newcomers are interacting with onchain applications more readily than ever before, meaning old indicators like App Store rankings may not carry the same weight as in previous cycles.