Phantom crosses $50 billion in perpetuals trading volume in just over a year

Phantom, the wallet most people downloaded to hold Solana tokens, has turned into a serious derivatives venue. The company announced on October 15, 2026 that its perpetual futures product has passed $50 billion in cumulative trading volume. That figure was built by 192,000 traders across millions of positions. It took just over a year. From launch to $50 billion Phantom rolled out perps trading in July 2025. The product plugs users directly into Hyperliquid’s on-chain order book without making them leave the wallet. The early numbers moved quickly. Volume hit approximately $1.8 billion in the first 16 days and reached $5 billion within five weeks. By late December 2025, cumulative volume stood at $26 billion. At that point, Phantom counted 85K traders and $100M in net deposits. The jump from $26 billion to more than $50 billion means volume nearly doubled after the year-end checkpoint. The trader count, meanwhile, grew from 85K to 192,000 over the same stretch. Independent data lines up with the company’s claims. DefiLlama shows cumulative Phantom Perps volume nearing $51.8 billion as of mid-October 2026, with 30-day volume running between $2.5 billion and $3.5 billion. Phantom cre...