.png){kind=logo}
With Bitcoin and Ethereum ETFs undergoing substantial outflows for the first time since Trump's presidency, the spotlight is on the security and reliability of digital wallets. Technical difficulties and security lapses at Phantom Wallet have led many to reconsider their wallet selections.
In this context, Plus Wallet shines brighter as an alternative. It delivers a cross-chain platform with advanced backup and recovery systems, establishing itself as the more adaptable choice. With its consistent performance across various cryptocurrencies, Plus Wallet is becoming the preferred solution for users seeking a combination of security, speed, and control over their funds and private keys.
For the first time since the election of Donald Trump, U.S.-based spot Bitcoin and Ethereum ETFs have seen notable outflows, breaking a period of continuous inflows. Bitcoin ETFs alone saw a net outflow of $400.7 million, coinciding with a 2% drop in Bitcoin’s price to $88,200.
Remarkably, only BlackRock’s iShares Bitcoin Trust ETF and VanEck’s Bitcoin ETF reported positive inflows, totaling $126.5 million and $2.5 million, respectively. Conversely, leading the outflows were Fidelity’s ETF with $179.2 million, followed by ARK and 21Shares at $161.7 million, and Bitwise with $113.9 million.
Ether ETFs mirrored this trend, recording their first outflows since Trump's victory, amounting to $3.2 million. Yet, BlackRock’s iShares Ethereum Trust ETF managed to attract $18.9 million, despite Grayscale’s Ethereum Trust ETF facing the highest outflow of $21.9 million. This shift underscores a downturn after a period of high inflows spurred by Trump's pro-crypto policies.
A recent bug in the Phantom iOS wallet app caused unexpected logouts, primarily affecting users who had not secured their recovery phrases, crucial for accessing non-custodial wallets. Phantom acknowledged that a "small number" of iOS users were affected and recommended restoring access through recovery phrases. This prompted swift user complaints on social media regarding lost access post-update. Phantom has since rectified the issue, stressing the importance of secure backup of seed phrases.
This incident adds to earlier technical problems, including balance display errors last October and token update delays earlier this year, which Phantom addressed promptly. The situation emphasizes the critical need for secure recovery strategies in decentralized finance (DeFi) wallets, where access depends entirely on user-managed backups.
For crypto users prioritizing functionality, user-friendliness, and robust security, Plus Wallet stands out as the superior option, especially compared to Phantom Wallet. While Phantom has found favor among Solana users, its recent technical setbacks highlight its reliability issues. Plus Wallet, conversely, provides a seamless, cross-chain experience supporting a broad spectrum of assets including Bitcoin, Ethereum, and more, making it ideal for managing diverse portfolios.
Plus Wallet’s interface is intuitively designed for straightforward crypto management, appealing even to novices. Unlike Phantom, it offers an advanced backup and recovery system, ensuring easy access recovery. Plus Wallet’s non-custodial nature allows users complete control over their private keys, enhanced with top-tier security measures like biometric authentication.
Performance-wise, Plus Wallet optimizes transaction speeds and reduces network fees across various blockchain ecosystems. This efficiency makes it particularly suitable for active traders and DeFi enthusiasts needing fast, reliable transactions.
A significant advantage of Plus Wallet is its proactive support team and consistent updates, which bolster stability and promptly address any issues—areas where Phantom has faltered. Thus, whether managing Bitcoin, Ethereum, or a variety of tokens, Plus Wallet provides a secure, versatile, and performance-driven experience, establishing it as the top choice for crypto users seeking dependability and innovation over Phantom Wallet.
Recent outflows from Bitcoin and Ethereum ETFs, coupled with technical issues in Phantom Wallet, highlight the critical importance of reliability and user control in crypto management. With its straightforward interface, strong security protocols, and cross-chain functionality, Plus Wallet offers a secure and effective alternative for digital asset management.
As crypto users look for reliable options to protect their investments, Plus Wallet’s comprehensive approach to backup, recovery, and transaction efficiency positions it as a solid choice. In an industry where trust and functionality are paramount, Plus Wallet delivers a reliable solution, empowering users to manage their crypto confidently and securely.
Website: https://pluswallet.app/
Download: https://onelink.to/pluswalletapp
Twitter: https://x.com/pluswalletapp
Instagram: https://www.instagram.com/pluswallet.app/
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
