A crypto investor has made substantial gains by investing in Ethervista, a new platform within the Ethereum ecosystem. The investor purchased VISTA tokens worth $5,000 right after the Ethervista protocol launched, which represented about 5% of the total circulating supply. The tokens began trading on August 31.
New Entrant in the Memecoin Market
Following the initial investment, the investor spread the VISTA tokens across seven different wallets and managed to sell them, making over $670,000 in profit within just two days. This information was revealed by the crypto data analysis platform Arkham on September 3.
Ethervista is a new platform in the Ethereum ecosystem enabling users to create and launch their own tokens, particularly memecoins. Some crypto experts view Ethervista as Ethereum’s response to the Solana-based platform, Pump Fun. Since its January launch, Ethervista has drawn considerable attention.
What Makes Ethervista Unique?
The platform incorporates a fair launch model where all 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 supply cap of one million tokens and continuous token burning to elevate the price floor.
Key Takeaways for Investors
Crypto researcher Stacy Muur emphasized the significance of the liquidity lock, noting it isn’t a signal that only new tokens need rug-pull protection. Unlike traditional decentralized exchanges, Ethervista charges transaction fees in Ethereum, which are then redistributed to liquidity providers and token creators.
- Significant early investments in new tokens can yield substantial profits.
- Spreading assets across multiple wallets can help in managing risk.
- Platforms with a deflationary token economy may offer long-term value.
- Understanding transaction fee structures is crucial for maximizing returns.
According to Etherscan, Ethervista has emerged as the third-largest consumer of transaction fees, using 22.5 Ethereum in the past 24 hours, trailing only Uniswap and Tether. The platform was launched to fill a gap in the Ethereum DeFi space and compete with networks like Solana, Base, and Tron, which have generated millions from memecoin activities. As per DexScreener data, VISTA’s market value soared to $30 million within two days of its launch.
As reported by CoinGecko, the price of VISTA has surged by 33% in the last 24 hours, reaching $21.19. The token peaked at $28.80 on September 2, but the upcoming liquidity lock on September 4 might lead to volatility.