Phantom, one of the most widely used non-custodial cryptocurrency wallets with approximately 15 million monthly active users, has announced it will end support for the Sui network on September 24, 2026. The decision removes the ability to view, send, swap, or interact with Sui assets through Phantom's interface and concludes a partnership that began in January 2025.
When Phantom integrated Sui on January 29, 2025, it marked the first Move-based blockchain supported by the wallet, joining Solana, Bitcoin, Ethereum, and Base. At the time, Phantom CEO Brandon Millman praised Sui's "focus on scalability and its superior user experience," while the Sui Foundation highlighted Phantom's large user base as a key entry point to the ecosystem. The integration allowed users to manage SUI and other network tokens, perform swaps, and connect with applications including Suilend, Bluefin, Navi, and Aftermath.
The withdrawal comes amid a significant decline in Sui's on-chain metrics. According to DeFiLlama, total value locked (TVL) on Sui has fallen to $470.38 million, down from over $2 billion when Phantom first introduced support and below the $1 billion mark recorded in July 2026. SUI is trading near $0.83 with a market capitalization around $3.4 billion, far below its January 2025 all-time high of $5.36. When Phantom initially integrated Sui, the market response was muted—SUI fell more than 4% that day and had already lost over 20% across the prior ten sessions.
Phantom has outlined two migration paths for affected users. Those who wish to remain within Phantom can swap their Sui assets into tokens on supported networks before the deadline. Available alternatives include SOL, ETH, and USDC, with cross-chain swaps into wrapped SUI on Solana temporarily exempt from Phantom's own fees through September 24. Network and exchange fees will still apply. Users who prefer to retain native Sui assets can import their recovery phrase into a compatible wallet—Phantom recommends Slush, the wallet associated with the Sui ecosystem—and the same address and balances should appear automatically. There is no deadline for accessing underlying assets, as they remain recorded on the Sui blockchain and controlled by the corresponding recovery phrase or private key.
Phantom has emphasized that the change will not transfer, delete, or convert assets automatically, and users who take no action can restore access later by importing the correct credentials into a compatible Sui wallet. However, the wallet warned that it will never contact users first, request a recovery phrase, or offer to move assets on their behalf. Any unsolicited migration assistance should be treated as a potential scam, particularly as wallet transitions often create opportunities for phishing campaigns that imitate support accounts or distribute fake wallet applications.
The Sui withdrawal is not an isolated move. Phantom is also ending support for Monad on August 26 using nearly identical migration steps, suggesting the wallet is trimming its multichain lineup rather than reacting solely to Sui. This aligns with a March 2026 Bank for International Settlements working paper that argued permissionless blockchains continue to fragment the market as new low-fee chains pull users from incumbents and weaken network effects.
Despite the Phantom exit, Sui's ecosystem continues to attract infrastructure development. Para announced native Sui support on August 12, highlighting growing stablecoin and payment activity on the network. U.S. spot SUI products are also already trading. Phantom and Sui have described the split as mutual and left open the opportunity to explore other collaborations in the future.
