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Phantom has acquired the Solana buying and selling and analytics platform Solsniper, Blockworks has discovered completely. Phantom declined to reveal the deal phrases.
Solsniper is considered one of a raft of platforms that present superior options and monitoring instruments for memecoin merchants. Solsniper’s net app will proceed to function as a standalone platform, and Solsniper’s staff, led by co-founder and CEO Max Zhuang, will be a part of Phantom.
Whereas Phantom minimize its tooth as a crypto pockets, the acquisition maybe indicators the well-funded platform’s plans to deepen its buying and selling capabilities, particularly after Phantom started providing perpetual futures buying and selling by the use of Hyperliquid.
Solana’s memecoin craze has been profitable for token creation platforms like pump.enjoyable and Letsbonk, however it has additionally been fairly worthwhile for the picks and shovels that facilitate the invention, monitoring and buying and selling of these memecoins.
DEX Screener, which affords widespread trending token lists, made $2.9 million up to now month simply by charging memecoin tasks to replace their token data, Solana onchain analyst adam_tehc famous just lately.
Over time, widespread buying and selling venues have begun integrating these picks and shovels-like providers. Jupiter and pump.enjoyable each provide in-house buying and selling terminals. With the Solsniper acquisition, Phantom could also be poised to do the identical, though it has not but made bulletins on that entrance.
“We see all kinds of expertise ranges in crypto at present, from new of us to skilled merchants. This acquisition helps Phantom present extra superior instruments that develop with the consumer’s experience. Solsniper has executed an awesome job of constructing a platform, and we’re excited to carry Phantom’s distribution and infrastructure into the product,” Phantom head of company growth Joe Wadcan mentioned.
Sweetening the deal additional, Solsniper additionally affords a Telegram buying and selling bot, which is a well-liked product amongst some memecoin merchants.
Picks and shovels could also be worthwhile to buying and selling platforms as a result of worth typically flows to the venues and platforms the place customers truly are. This is the reason memecoin trade watchers are typically bullish on Axiom, which is making an attempt to win finish customers whereas staying agnostic to particular networks or platforms.
