Phantom Ditches SUI Network Support Amid Declining Performance Indicators

Phantom is ending support for SUI Network on September 24, giving users one month to migrate their holdings or convert them into supported assets. This move comes after a compromise between Phantom and the Sui team.

The SUI Network was introduced by Phantom in January 2025, with 15 million monthly active users at the time. However, since then, Sui has seen declining performance indicators, with its DeFi TVL currently sitting at $470 million compared to over $2 billion before.

Phantom is advising users to either swap their SUI for wrapped SUI on Solana or use another compatible wallet to keep their native SUI. For the former, Phantom is temporarily waiving its own cross-chain conversion fee until September 24, although network and exchanges fees still apply.