Phantom, the multichain self-custodial wallet, will end support for the SUI Network on September 24, 2026, giving users one month from the August 24 announcement to move their holdings or convert them into assets that remain supported. The decision is the result of a compromise reached between Phantom and the Sui team, and it marks the end of a well-known wallet integration project that was first launched in January 2025.

When Phantom introduced SUI Network support — Sui is the layer-1 blockchain developed by Mysten Labs using the Move programming language — the wallet was said to have 15 million monthly active users, allowing Sui to extend its reach in the retail market through a major self-custodial solution. Integrations of this kind are a key channel for retail adoption, since for most users a wallet app is the primary interface for holding and moving on-chain assets. Since then, Sui has seen declining performance indicators. Its decentralized finance (DeFi) total value locked (TVL) is currently said to be around $470 million, compared with more than $2 billion previously.

The overall market landscape has changed as well. SUI is currently trading at about $0.83, with a market capitalization of approximately $3.4 billion according to the latest available data. The price remains far below the token's all-time high of $5.36, reached in January 2025. The fall in price has meant a drop in valuation and reduced liquidity, and the SUI Network ecosystem has been under pressure.

SUI Network Users Face Two Migration Routes

According to Phantom, affected users can choose one of two routes: they can either swap their SUI for wrapped SUI on Solana — a tokenized representation of SUI that circulates on the Solana blockchain — or they can keep their SUI on the native network using another compatible wallet. For the first option, Phantom is temporarily waiving its own cross-chain conversion fee until September 24, though network and exchange fees still apply.

For users who wish to keep their native SUI, it is possible to export the recovery phrase from Phantom's settings and import it into another compatible wallet; Phantom specifically advises using Slush. It is worth noting that assets are recorded on the SUI Network itself and are not stored in the application. Therefore, the September deadline does not mean that funds disappear.

Phantom and Sui have decided to end Sui support on Phantom on September 24, and leave open the opportunity to explore other collaborations in the future. Your funds remain safe and fully under your control. Before 9/24, you can move your wallet to another app that supports Sui,…

— Phantom (@phantom), August 24, 2026

Phantom's Multichain Strategy Comes Under Focus

The SUI decision follows Phantom's August 26 end of support for Monad, per the company's official help article, indicating a broader adjustment to its multichain lineup. At the time, Phantom's supported networks included Solana, Ethereum, Bitcoin, Base, Sui, and Monad — a lineup the wallet built out after launching as a Solana-focused product. Both parties considered the disengagement mutual, without precluding possible cooperation in the future.

In the case of the SUI Network, the current problem is related more to availability than to custody. There are enough other wallets and service providers to take over the users and continue development in other spheres. Phantom's exit from the SUI Network does not, in itself, imply causality between the action and Sui's poor metrics.