Phantom expands its digital asset ecosystem by acquiring Solsniper, an AI-powered memecoin trading platform on Solana, as it strengthens its active trading infrastructure amid shifting market dynamics.
Phantom announced on August 4 that it has acquired Solsniper, an AI-powered memecoin trading and analytics platform built on Solana, marking its first major step into active trading infrastructure. The acquisition brings the full Solsniper team into Phantom operations while the Solsniper platform remains operational with upcoming feature updates. Concurrently, the memecoin market shows signs of cooling with a drop in market cap from $85 billion at its peak to about $65 billion and a decline in daily active addresses.