Phantom is launching perpetual contract trading supported by Hyperliquid in the EU. This product integrates with Hyperliquid's API without a license to access the market, allowing eligible users to trade perps directly in popular web3 wallets while maintaining non-custodial control over their positions. It offers a mobile-first experience designed to feel like an intuitive extension of Phantom's core interface, providing up to 40x leverage, stop-loss, take-profit, and real-time alerts. This release reflects Phantom's belief that wallets (rather than exchanges) will become the primary entry point for on-chain activity. Nonetheless, in the race for users, Coinbase and Robinhood are also developing new perpetual trading plans, and Phantom's move comes at this time. Hyperliquid was initially a high-performance, non-custodial perpetual futures platform and has expanded with HyperEVM (a smart contract and dApp network compatible with Ethereum), built on its Layer 1 foundational software HyperCore. It supports collateral deposits from multiple blockchains, allowing users to trade perps and interact with EVM contracts while remaining self-custodial. The Block previously reported that Hyperliquid generated over $1.57 trillion in perpetual futures trading volume in the past 12 months. Phantom was initially a web3 wallet focused on the Solana ecosystem in 2021, during the adoption wave driven by the bull market of the emerging blockchain. However, its multi-chain strategy began in April 2023, expanding support to Ethereum and Polygon blockchains. A Bitcoin integration is set to launch in December 2023, increasing support for the most important cryptocurrencies, Ordinals, and BRC-20 tokens. Recently, Phantom launched access to Coinbase-incubated Layer 2 network Base in November and plans to launch the Move-based Layer 1 Sui in January. It also plans to support the Monad blockchain once it is launched, which is currently in the testnet phase. Earlier this year, Phantom announced it raised $150 million in a Series C funding round led by Sequoia and Paradigm, with a valuation of $3 billion. Despite ongoing rumors about airdrops following the deployment of social features on the application, Phantom clarified that it has no plans to launch its own token.

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