Phantom Integrates Futures Trading via Hyperliquid Partnership

Phantom Wallet has launched integrated futures trading with Hyperliquid today, expanding its DeFi offerings to users globally.

The integration indicates potential growth in onchain trading, as Hyperliquid gains access to Phantom’s established user base, enhancing accessibility and liquidity.

Phantom’s DeFi Expansion with Hyperliquid Partnership

Phantom has partnered with Hyperliquid (link) to introduce an integrated futures trading feature, marking a significant evolution for digital asset wallets. The rollout represents Phantom’s shift from a simple wallet to a comprehensive DeFi portal, catering to wider trading needs.

The collaboration allows users to access futures trading, opening an avenue to trade BTC, ETH, SOL, and over 100 other digital assets. This move seeks to capitalize on Phantom’s substantial user base, propelling Hyperliquid’s reach.

New Futures Trading with Up to 40x Leverage

With up to 40x leverage and advanced risk management, the integration is poised to democratize derivatives trading among non-professional users. The user-friendly interface encourages participation, potentially amplifying trading volume on the platform. The integration, which excludes UK users due to regulatory considerations, showcases Phantom’s compliance strategy, maintaining adherence to local derivatives regulations while extending global reach.

Onchain Analyst Predicts User Conversion Spike

Similar shifts from centralized exchanges to in-wallet trading platforms have historically expanded market participation. Onchain analyst JJ noted:

“If just 10% of Phantom’s user base converts into Hyperliquid traders, that’s 1.5 million wallets entering the Hyperliquid ecosystem, which would nearly double the addressable user base for onchain perp trading overnight.”

source Given Hyperliquid’s expanded user base and increased asset accessibility through Phantom, the partnership is set to enhance market dynamics. Historical trends suggest this integration could stimulate similar expansions across other digital wallets.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.