Solana News Today: Phantom Acquires Solsniper to Expand Solana Trading Tools Ecosystem

Phantom, a leading wallet and ecosystem platform on the Solana blockchain, has finalized the acquisition of Solsniper, a specialized trading and analytics tool for Solana traders. The deal was confirmed through Phantom’s official support documentation and social media channels, though no financial terms were disclosed [1]. Solsniper, known for its speed and precision in tracking token activity and market movements, will continue to operate as a standalone platform while its team, including co-founder and CEO Max Zhuang, joins Phantom [1].

The acquisition aligns with Phantom’s broader strategy to expand beyond its role as a wallet and establish itself as a comprehensive hub for Solana-native financial tools. Phantom has already integrated perpetual futures trading via Hyperliquid, and the addition of Solsniper further strengthens its ability to serve advanced traders who require real-time data and advanced analytics [1]. Solsniper’s web app offers features such as social data analytics and QuantGPT, an AI-powered trading assistant, which are expected to enhance Phantom’s utility for power users [1].

According to Phantom’s corporate development head, Joe Wadcan, the acquisition is intended to support users of varying experience levels, from newcomers to seasoned traders, by providing tools that grow with their expertise [1]. Phantom CEO Brandon Millman emphasized the company’s ambition to expand its product offerings through strategic acquisitions, aiming to build a leading consumer finance platform within the Solana ecosystem [1].

The move also reflects the growing importance of “picks and shovels” platforms in the memecoin space. While platforms like pump.fun and DEX Screener have seen significant revenue from memecoin activity, Solsniper’s Telegram trading bot and in-depth tracking capabilities position it as a key player in facilitating the discovery and trading of these tokens [1]. By acquiring Solsniper, Phantom aims to retain users who previously left the wallet to access external tools, integrating them back into its ecosystem [1].

Solsniper’s integration does not currently involve major changes to its platform, and support channels remain unchanged. Users are directed to contact support@solsniper.xyz for assistance, and the company’s social media and web app will continue to function as they do now [1]. Phantom’s FAQ page reassures users that the acquisition will not disrupt the existing structure or user experience of Solsniper [1].

The acquisition is seen as a step in Phantom’s ongoing transformation into a one-stop solution for Solana-based trading and analytics. As the platform continues to explore strategic expansion, the integration of Solsniper signals its commitment to enhancing the user experience and solidifying its position in the fast-evolving crypto market [1].

Source: [1] Phantom X Solsniper (https://help.phantom.com/hc/en-us/articles/43536325482515-Phantom-X-Solsniper)

[2] Phantom - X (https://x.com/phantom?lang=en)