Phantom Wallet's Perpetual Futures Feature Surpasses $1 Billion in Trading Volume, Cautions Users on Significant Risks

Phantom, a prominent digital asset wallet, has recently launched its in-wallet perpetual futures trading feature, known as "Phantom Perps," which has quickly surpassed $1 billion in cumulative trading volume. This new offering aims to democratize access to crypto derivatives, allowing users to trade perpetual contracts directly within their wallet interface. However, the company explicitly warns that "Phantom Perps aren't available everywhere" and that "trading perps involves significant risk and may not be suitable for all users," with a specific note that "This post is not intended for UK audiences.

Powered by Hyperliquid, a decentralized exchange for perpetual futures, Phantom Perps enables users to speculate on token price movements without owning the underlying asset. The mobile-first design offers up to 40x leverage across more than 100 markets, including major cryptocurrencies like BTC, ETH, and SOL. Users can open, close, and manage positions, including setting stop-loss and take-profit orders, directly from their Phantom wallet, simplifying a process often deemed complex on traditional exchanges.

Phantom's integration of perpetual futures aligns with its vision of wallets becoming the primary gateway for on-chain activity, competing with centralized exchanges. The move has rapidly gained traction, with reports indicating that the feature has generated over $1.8 billion in volume and nearly $930,000 in revenue from approximately 17,000 unique users shortly after its launch. This strategic enhancement expands derivatives access beyond institutional traders, potentially onboarding millions of retail users into the crypto derivatives market.

Despite the simplified interface, Phantom emphasizes the inherent dangers of perpetual futures trading. The use of leverage, while amplifying potential gains, also significantly increases the risk of losses, including liquidation. Phantom advises caution with leverage and strongly recommends setting stop-loss orders to mitigate market volatility. The company's disclaimers about geographical availability and suitability underscore the high-risk nature of these financial instruments, particularly noting the exclusion of UK audiences.

This launch represents a significant step for Phantom in transforming its wallet into a comprehensive financial hub. The company plans to continue expanding access and adding new features, further integrating advanced trading mechanisms into the wallet environment. As the crypto industry evolves, the trend of embedding sophisticated financial tools directly into user-friendly wallet interfaces is expected to grow, reshaping how individuals interact with digital assets.