A crypto trader has made a huge profit from purchasing the VISTA token of the new Ethervista platform, a decentralized exchange (DEX) and marketplace for minting tokens on Ethereum.

The trader bought $5,000 worth of VISTA immediately after the Ethervista protocol launched. The purchase gave him about 5% of the total circulating supply of VISTA tokens, which became available for trading on August 31.

Ethervista is a new token minting marketplace on Ethereum that allows users to create and launch their own tokens, mostly meme coins.

Ethervista: Ethereum's "Answer" to Pump.fun

Some crypto experts have called Ethervista "Ethereum's answer" to its competitor Pump.fun, which runs $SOL , a meme coin platform that has gained widespread popularity since its launch in January.

The retro-style Ethervista platform offered 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."

It has deflationary tokenomics with a supply cap of 1 million tokens and constant token burning to reduce supply and increase the minimum price.

Crypto researcher Stacey Moore noted the liquidity lock but added that "it is the ETH/USDT pair, not a new token, that needs rug pull protection," adding that there was no disclaimer to inform users.

On Topic: Pump.fun's Daily Revenue Exceeds Next 24 Protocols Combined

Unlike traditional DEXs and marketplaces, Ethervista charges a fee of $ETH , which is split between liquidity providers and token creators.

Because the platform uses ETH for network fees, its gas consumption has skyrocketed, making it the third-largest gas consumer after Uniswap and Tether over the past 24 hours, with 22.5 ETH, according to Etherscan data.

Ethervista emerged from the need to fill a gap in Ethereum's DeFi space and compete with rival networks Solana, Base, and Tron, which have attracted millions of dollars in revenue from crowds of meme-coin degens in recent months.

The Ethervista platform has attracted a huge amount of attention from crypto market participants, with the market cap of its native token reaching $30 million just two days after its launch, according to DEX Screener.

VISTA prices have risen 33% in the last 24 hours, reaching $21.19 at press time, according to CoinGecko. The new token peaked at $28.80 on September 2, just a couple of days after its launch. However, the unlocking of liquidity on September 4 could lead to volatility.

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