Trader turns $5k into $670K on Ethereum pump.fun rival Ethervista.
A crypto trader has made a huge profit by buying EtherVista, the new decentralized exchange native to the platform and a marketplace to launch on Ethereum.
The trader bought $5,000 worth of VISTA tokens immediately after the launch of the EtherVista protocol. This purchase will make them about 5% of the total circulation of VISTA tokens in circulation on August 31st.
The trader then distributed his VISTA holdings across seven different wallets to sell, two days later making a profit of over $670,000 in ETH, according to a September 3 X post from crypto intelligence Arkham.
Source: Arkham Intelligence
Ethervista is a new token platform that works directly on Ethereum that allows users to create and launch their own tokens, primarily memecoins.
Ethervista: Ethereum's “answer” to Pump.fun
Ethervista has been described by some crypto experts as “Ethereum's answer” to its Solana-based competitor Pump.fun – a memecoin launchpad that has generated high adoption since its launch in January.
The retro-themed Ethereum platform features a “fair launch model” where 100% of native VISTA tokens are allocated to liquidity providers and locked for five days to prevent early carpet pulling.
Tokenomics has a one million supply cap and continuous token burning to reduce supply and increase the price floor.
However, some have reported failure when trying to withdraw funds.
Source: Stacey Moore
Crypto researcher Stacey Moore pointed out the liquidity lock but said there was no disclaimer to inform users that “it is the ETH/USDT pair, not a newly created token, that needs anti-carpet protection.”
Related: Pump.fun's daily revenue is greater than the next 24 protocols combined
Unlike traditional DEXes and marketplaces, Ethervista charges fees in native ETH, which is distributed to liquidity providers and token creators.
Because it uses ETH for network payments, the platform's gas usage at 22.5 ETH in the last 24 hours makes it the third largest gas user behind Uniswap and Tether, according to Etherscan.
EtherVista was created out of a need to fill a void in the Ethereum DeFi space and compete with rival networks Solana, Base, and Tron, which have attracted millions of dollars from the memecoin crowdfunding in recent months.
The EtherVista platform has seen significant attention from crypto market participants, with the native token's market capitalization reaching $30 million two days after launch, according to DexScreener data.
VISTA prices. Source: DEXscreener
According to CoinGecko, VISTA prices have risen by 33% in the last 24 hours. The new token reached an all-time high of $28.80 on September 2, a few days after its launch, but the liquid opening on September 4 could cause volatility.
Magazine: Memecoins: Betraying Crypto Ideas… Or Its True Purpose?
