A cryptocurrency trader has profited from the newly launched Ethervista platform, the latest decentralized exchange and token minting marketplace on the Ethereum network.
The trader, who purchased $5,000 worth of Ethervista (VISTA) tokens immediately following the platform’s launch on August 31, has made headlines by turning that initial investment into over $670,000 in just two days.
Ethervista, touted by some as “Ethereum’s answer” to Solana-based Pump.fun, is a unique platform that allows users to create and launch their tokens, primarily targeting the memecoin market.
The retro-themed platform has garnered significant attention for its innovative approach. It includes a “fair launch model” where 100% of its native VISTA tokens were allocated to liquidity providers and locked for five days to prevent early rug pulls.
The trader’s early purchase of VISTA tokens, which accounted for roughly 5% of the total circulating supply, proved to be a lucrative move. By distributing the tokens across seven different wallets, the trader was able to sell them off strategically, realizing substantial profits in ETH.
According to a September 3 post by crypto intelligence platform Arkham, the trader’s total earnings exceeded $670,000.
Ethervista’s deflationary tokenomics, with a one million supply cap and continuous token burns to reduce supply, have contributed to the token’s rising value. VISTA’s price surged by 33% over the past 24 hours, reaching $21.19 at the time of writing, according to CoinGecko.
The token peaked at $28.80 on September 2, with a market capitalization hitting $30 million just two days after its launch, as reported by DexScreener.
Despite the success, some users have reported issues with failed transactions when attempting to remove liquidity. Crypto researcher Stacy Muur pointed out the platform’s liquidity lock but noted that it’s the ETH/USDT pair that’s locked, not the newly created token, raising concerns about transparency.
Ethervista’s innovative fee structure, which charges fees in native ETH distributed to liquidity providers and token creators, has also led to a surge in gas usage on the Ethereum network. The platform became the third-largest consumer of gas, trailing only Uniswap and Tether, with 22.5 ETH consumed in the past 24 hours, according to Etherscan.
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