Phantom to End Monad Wallet Support After August Cutoff
Phantom will remove support for the Monad blockchain on Aug. 26, prompting users to migrate their assets or wallets as the popular self-custody wallet streamlines the number of networks it supports.
Summary:
- Phantom is winding down support for the Monad blockchain after roughly nine months of integration.
- Users can either migrate to another Monad-compatible wallet or swap assets before the transition.
- MON remained under pressure, extending its recent short-term decline.
What Changes for Monad Users
After the deadline, Phantom will no longer display Monad balances, process transactions on the network or allow users to interact with Monad through the wallet.
The company said it has started notifying affected users inside the application and is providing migration options ahead of the transition. Because Phantom is a non-custodial wallet, assets will remain on the Monad blockchain even after support ends. Users who take no action will not lose their funds, although they will need another compatible wallet to access them.
Two Migration Paths Available
Users who intend to remain within the Phantom ecosystem can swap Monad-native assets into supported networks before Aug. 26.
Phantom has temporarily waived its own fees for cross-chain swaps from native MON to wrapped MON on Solana, although standard network and exchange fees still apply. Alternatively, users can swap into supported assets such as SOL, ETH or USDC.
Those wishing to continue using the Monad network can instead import their existing Secret Recovery Phrase into another wallet that supports the blockchain, including MetaMask and Rabby. Since wallet addresses are derived from the recovery phrase rather than the application itself, the same assets remain accessible after migration.
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Phantom also warned users that it will never request recovery phrases or contact customers privately to assist with migration, cautioning against phishing attempts surrounding the transition.
Network Strategy Shifts
The decision comes roughly nine months after Phantom introduced Monad support and follows the wallet’s continued expansion into other blockchain ecosystems, including its recent integration of Robinhood Chain.
The move reflects Phantom’s ongoing efforts to prioritize networks with broader user activity while consolidating development resources across its supported blockchains.
MON Price Extends Recent Weakness
The announcement coincided with continued weakness in MON, which traded near $0.0207 at the time of writing.
The token has been in a steady short-term downtrend since peaking above $0.024 earlier in the week, declining by more than 13% before stabilizing around the $0.021 level. The one-hour chart shows lower highs and lower lows throughout the period, suggesting sellers remain in control despite signs that the decline has begun to flatten near recent support.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
