Phantom Dumps Sui Blockchain Support Amid Token Price Plunge

Phantom has announced that it will end its support for the Sui blockchain on September 24, giving users two weeks to transfer their $SUI. The wallet had previously touted its support for Sui as a major milestone, with the Sui Foundation calling it 'the only Move-based chain and the third Layer 1 fully supported on the platform.'

The move comes amid a significant decline in Sui's price and TVL, with the token now trading at around $0.83 and the total value locked (TVL) at just under $470 million, down from its all-time high of over $5.36.

Phantom is giving users two options: to convert their $SUI into wrapped $SUI on Solana, or to transfer their assets to another wallet that supports Sui, such as Slush, which the Phantom wallet recommends as a preferred option for the Sui Foundation.