The reason Phantom has been dominating as the most profitable web3 wallet for so long, leaving the second-place little fox wallet Metamask far behind: Luck from riding the Solana wave is one factor, but more importantly, it’s their sharp business instincts. Phantom was among the first wallets to integrate Hyperliquid as a third-party frontend, and this decision allowed them to reap massive rewards from HL’s explosive growth. In just one year of integrating HL, Phantom generated $21.64 million in revenue from this segment.