Phantom Denies Token Launch Rumors Amid New Social Feature Rollout

Phantom, the popular cryptocurrency wallet, has dismissed speculation about a potential token launch following its recent social feature rollout.

The announcement also celebrated the positive reception of its new social tools.

Launched in December, Phantom’s social features allow users to create profiles, connect with friends, and choose privacy settings such as public, private, or invisible. Currently, these features are limited to the wallet’s mobile app, but Phantom hinted that support for its widely used Chrome extension would be available soon.

Rumors about a possible airdrop were sparked by the introduction of follower and friend features, leading to speculation that Phantom might launch a token in 2025. However, the company’s statement seems to put those hopes to rest.

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In addition to its social updates, Phantom revealed plans to integrate Sui, a Layer 1 blockchain, as its fourth supported network. Sui will join Bitcoin, Ethereum, and Solana, the latter being the blockchain where Phantom initially established its presence.

“We are selective about the blockchains we support, and it’s an honor to be part of this group,” said Jameel Khalfan, global head of ecosystem at the Sui Foundation. Although Phantom has not confirmed an official launch date for the integration, it has teased that the addition is “coming soon.”

This move follows Phantom’s recent addition of Ethereum Layer 2 network Base, which expanded its blockchain support in November. The Sui integration signals Phantom’s ongoing efforts to enhance its platform and cater to a broader user base.

Alexander Stefanov