A cryptocurrency trader has made significant profits from the recent launch of Ethervista, a new decentralized exchange and token creation platform based on Ethereum.
The trader invested $5,000 in Ethervista’s native VISTA token shortly after its launch on August 31. Within just two days, they turned that investment into more than $670,000 by selling a large portion of their VISTA holdings, representing about 5% of the total supply.
Ethervista, which is designed to allow users to create and launch their own tokens, specifically memecoins, has been compared to Solana's Pump.fun, a popular memecoin launching platform.
The platform uses a “fair launch model,” initially distributing all VISTA tokens to liquidity providers and locking them for five days to prevent immediate mining.
Despite its innovative approach, including a deflationary mechanism with a one million token cap and continuous token burning, Ethervista has encountered a number of issues, such as failed liquidity erasures.
Additionally, since the platform charges transaction fees in ETH, it has become a significant gas consumer on Ethereum, behind only Uniswap and Tether.
Ethervista’s rapid rise has attracted significant attention, with its market cap reaching $30 million within days of its launch. The platform aims to compete with other networks such as Solana, Base, and Tron, which have seen significant revenue from memecoin operations recently.
