A crypto investor successfully earned significant profits by purchasing the native token of a new platform called Ethervista launched in the Ethereum ecosystem. The investor bought VISTA tokens worth $5,000 immediately after the Ethervista protocol was launched. This purchase accounted for approximately 5% of the total circulating supply of VISTA tokens, which began trading on August 31.
New Player in the Memecoin Space
The investor then distributed the VISTA assets across seven different wallets and sold them, earning over $670,000 in profit within just two days in the Ethereum ecosystem, according to a post by the crypto data analysis platform Arkham on September 3.
Ethervista is a new token platform in the Ethereum ecosystem that allows users to create and launch their own tokens, primarily memecoins. Some crypto experts describe Ethervista as Ethereum’s answer to its Solana-based competitor, Pump Fun. This memecoin platform has generated significant interest since its launch in January.
The retro-themed Ethervista platform offers a fair launch model where 100% of the native VISTA tokens are allocated to liquidity providers and locked for five days to prevent rug-pulls. It also features a deflationary token economy with a one million supply cap and continuous token burning to reduce supply and raise the price floor.
Details on the Subject
Crypto researcher Stacy Muur highlighted the liquidity lock but added that it is not a process to inform users that a newly created token, not the ETH/USDT pair, needs rug-pull protection. Unlike traditional DEXs and marketplaces, Ethervista charges transaction fees in Ethereum, which are then distributed to liquidity providers and token creators.
According to Etherscan, the platform has become the third-largest consumer of transaction fees, using 22.5 Ethereum in the last 24 hours, following Uniswap and Tether. Ethervista was launched to fill a gap in the Ethereum DeFi space and to compete with rival networks Solana, Base, and Tron, which have generated millions of dollars in revenue from memecoin degenerations in recent months. According to DexScreener data, the token’s market value reached up to $30 million just two days after its launch.
According to CoinGecko, the price of VISTA increased by 33% in the last 24 hours, reaching $21.19 at the time of writing. The new token reached $28.80 on September 2, just a few days after its launch, but the liquidity lock on September 4 could cause volatility.
