Journalist
Published:
The battle for Web3’s most used wallet enters a new era.
Crypto wallets are the gateway to apps, trading, NFTs, and entire ecosystems. For years, MetaMask owned this space, especially for Ethereum (ETH) users. It was the default choice for anyone getting started with Web3.
But this dominance is being tested. As the Solana (SOL) ecosystem grew, Phantom stepped in with a simpler, faster experience suitable for everyday use.
Adoption data shows just how close this race is. MetaMask now has around 30 million funded accounts, while Phantom has surpassed 16 million, putting them both ahead of major fintech apps like Wise, SoFi and Chime.
Source:
MetaMask, the OG getaway
MetaMask was built around the EVM ecosystem. It supports Ethereum and major networks such as Polygon (POL), Avalanche (AVAX), BNB Chain (BNB) and more, with custom networks easily added. Its main appeal is token swaps, adjustable gas fees, NFT support, and a built-in dApp browser.
Lately, MetaMask has overtaken Ethereum. It rolled out native support for Bitcoin (BTC) and Tron (TRX), expanded cross-chain swaps, and introduced MetaMask Snaps, which allow developers to add new features directly into the wallet.
It has also moved to tokenized RWAs. This provides access to US stocks and ETFs in certain regions.
Phantom, the competitor
Phantom started as a Solana-only wallet, designed around speed, low fees, and ease of use. This focus has paid off, as it is now a favorite among everyday users.
Now it also supports Ethereum, Polygon, Bitcoin, Base and Sui (SUI), as well as cross-chain swaps. Recent upgrades include Phantom Connect, which simplifies integration, and Phantom Terminal targets active traders. There are also integrations such as prediction markets and real-world payments.
Why Phantom is gaining ground
Solana’s growth has given Phantom a clear advantage. Faster transactions, lower costs, and a smoother user experience make it easier to onboard new users.
Phantom directly benefits from this momentum.
MetaMask still dominates Ethereum and power users, but its strength lies in its flexibility. Nowadays, ease of use matters more and Phantom wins.
Final Thoughts
- MetaMask leads with 30 million funded accounts, but Phantom now operates at fintech scale.
- As ease of use trumps flexibility, the market share of wallets may change.
