Coinspeaker
Phantom Resolves Surge-Induced Transaction Delays, Systems Now Stabilized
Phantom, a self-custodial crypto wallet that allows users to buy, store, and trade cryptocurrencies and NFTs, has successfully resolved the issues caused by a massive surge in activity, with the platform now operating smoothly once again. The platform, which had been processing over 8 million requests per minute, experienced significant delays and difficulties with transactions. However, as a result of the swift efforts of its technical teams, transactions are now processing without issues, and all systems are expected to remain stable moving forward.
The team revealed that despite the challenges, Phantom was still able to handle $1.25 billion in trading volume and process 10 million transactions today. The surge in activity tested the platform’s capacity, but the team managed to keep operations going while working on solutions. The platform acknowledged Mert Mumtaz, CEO and co-founder
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