Phantom Wallet has expanded to the base of the Ethereum layer 2 network 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 active, allowing all users to interact with the Base ecosystem.
The latest expansion is significant because 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 Ether and USDC on Base and exchange 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 core ecosystem through compatibility with ledger devices, automatic spam detection for NFTs and malicious tokens and transaction simulation to flag suspicious activity.
This expansion follows the wallet provider’s recent acquisition of web3 security platform Blowfish. As reported by crypto.news, Blowfish has been integrated with Phantom to improve protection against harmful dapps and bugs, using its technology, which has successfully prevented over 2.8 million scams.
Meanwhile, Phantom has experienced some technical issues over the past few months. On November 13, an update introduced an issue for some iOS users, effectively locking them out of their accounts. The bug reset wallets and prompted users to re-enter their recovery phrases. Several users reported losses, including one who claimed to have lost $600,000.
Still, the wallet has seen increased demand amid the current memecoin craze, which has pushed retail investors toward decentralized trading platforms. Phantom recently overtook Coinbase in Apple’s US App Store rankings.
The memecoin frenzy has particularly attracted new traders to decentralized wallets like Phantom, which, while less beginner-friendly than centralized exchanges, offer access to meme coin markets on decentralized exchanges.
Phantom’s recent integration with Base, combined with the growing popularity of platforms like Clanker, an AI-driven token bot designed to deploy coins on Base, could spark an Ethereum “memecoin mania” (ETH), according to Bankless co-founder Ryan Sean. Adams.
