Crypto wallet provider Phantom has acquired Solsniper, an AI-powered memecoin trading and analytics platform built on the Solana blockchain. Announced on August 4, the deal marks Phantom’s first major move into active trading infrastructure. Since its launch in 2021, Solsniper has gained popularity for its fast, real-time tools that help users track token launches, monitor wallet activity, and follow market trends.
As part of the acquisition, the entire Solsniper team will join Phantom’s operations. Phantom noted that the Solsniper platform and website will continue to operate for the time being, with new features and updates planned in the coming months. This deal is the latest in a series of acquisitions by Phantom this year, aligning with its broader strategy to scale and expand its offerings.
From wallet to advanced trading interface
Phantom has traditionally operated as a wallet service provider, initially launching on Solana before expanding to support networks like Ethereum and Polygon. While it already offers features such as token swaps, staking, and NFT storage, Phantom now aims to transform into a comprehensive trading platform designed to serve both novice and experienced traders.
“Phantom is becoming more than a wallet,” the team wrote on X on Monday. “We’re building the leading consumer finance platform, all on crypto infra.”
The Solsniper acquisition fits into that strategy, with the platform offering tools like sniping, token launch alerts, and wallet activity tracking. Phantom also hinted that more acquisitions will follow in the coming months, and the bid to expand its product suite comes as the memecoin ecosystem continues to blow up.
Memecoin market still booming
At its peak in July 2025, the total memecoin market capitalization reached around $85 billion, with daily trading volume hitting $17.2 billion, according to CoinMarketCap. While the market has since declined to approximately $65 billion, activity remains strong.
Solana-based launchpads like LetsBonk continue to lead new token launches and trading, even as interest in platforms like Pump.fun begins to wane. LetsBonk now drives 57% of Solana’s memecoin activity, having facilitated over 18,000 new token deployments and more than $507 million in trading volume within the past 24 hours, according to Dune Analytics.
Popular tokens such as Pudgy Penguins, Bonk, and Trump (TRUMP) remain the top Solana-based memecoins by market capitalization. Platforms like Pump.fun, known for their fast deployment and user-friendly interfaces, have played a key role in shaping the memecoin landscape on Solana.
However, momentum is beginning to fade. Daily active addresses in the Solana memecoin ecosystem have dropped from a high of 433,000 in January to roughly 148,850, reflecting a broader decline in retail participation.
