Phantom drops Sui support as the network struggles to regain momentum

On the 24th of September, Phantom will cease its support for the Sui blockchain, providing its customers with a couple of weeks to transfer their SUI and eliminating a platform that allowed users to enter one of the most talked-about Layer 1 solutions of 2025.

As mentioned by the Sui Foundation, when Phantom initiated support for Sui, the wallet boasted of having 15 million active users every month.

The announcement comes as Sui’s price has now sunk much lower than it had been in the past. According to the data from DefiLlama, the amount of money trapped in the blockchain altogether is now $470.38 million, while the SUI price is around $0.83, with the whole market capitalization of the coin near $3.4 billion.

This is a significant decline from over $2 billion in TVL when Phantom introduced Sui and from the all-time high of $5.36, which was recorded back in January 2025.

Two ways out before the transition date

Phantom is giving holders two options, both detailed in a company help page.

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