One of the recent stories that have made headlines is a clever cryptocurrency trader, who turned a $5000 investment into an astonishing return of $670,000.
EtherVista, a new native token on a decentralized exchange (DEX) and asset minting platform made substantial gains after the investment.
Released on August 31, the platform is being touted as Ethereum’s answer to Pump.fun. Its Solana based rival.
The first is a light-weight community focused card game that offers profitable & enjoyable fun and has been embraced with open arms by the crypto world.
The Rise of EtherVista: New Player of DEFI Arena
Retro-oriented platform EtherVista allows users to mint and launch their own memecoins. It is described with a ‘fair launch model’ wherein any individual staking using LP farming will be granted 100% of native VISTA tokens. The model we adopted prevented early rug pulls where liquidity was locked for the first 5 days of trading.
The novel platform has generated a significant amount of attention, having pushed the VISTA token to a high market capitalization uptrend, reaching almost $30 million only two days after trading began. VISTA Prices Skyrocket by 33% In Just One Day According to CoinGecko, VISTA prices rose 33% over a period of twenty-four hours and hit $21.19 at one stage but reached as high as an impressive figure of nearly 30%, touching the value point of around $28.80 respectively.
According to the site Etherscan, Ethervista is currently one of Ethereum’s largest gas consumers (immediately behind Uniswap and Tether) counting 22.5 ETH usage in a span of just 24 hours as more people are holding it for tradable yields against US goods paid off with an inflation tactic exclusively to other countries.
How an Anonymous Trader Converted His $5k to $670K?
The day EtherVista protocol went live on the 31st of August, a trader rushed to buy $5k worth of VISTA token. Spending more than $150K in the purchase effectively secured them roughly 5% of the entire circulating supply, a significant move by anyone’s standards.
The trader then proceeded to siphon off their VISTA holdings over the course of just two days split among seven wallets. This most certainly assisted them both in taking less risk and avoiding exposure since other traders employ this simple strategy often used by more experienced players who trade wisely in the world of volatile cryptocurrencies. After this, the trader started to dump some of their VISTA wallets into Ether (ETH) and eventually walked away from a profit in excess of $670k.
Arkham Crypto Intel pointed out the profitable possibilities of timing trades in cryptos as it posted on September 3 about this amazing achievement.
Tokenomics of Ethervista and Rising Gas Fees
VISTA (deflationary tokenomics)—Ethervista has a total supply cap of 1,000,000 tokens and uses a continuous token burn pool as one way to decrease the circulation, ultimately leading to a price floor up in the long run. This feature has the attention of not only traders and liquidity providers but also token creators who utilize this deflationary model to their advantage.
EtherVista also differs from traditional DEXs by charging native gas fees in Ether (ETH) to be distributed among liquidity providers and token creators!
That one-of-a-kind expense shape has attracted document quantities or propelled SushiSwap to end up within the second do, shopper gas on Ethereum after yielding Uniswap and USDT.
Triad: 22.5 ETH of network fees in the last day alone, this figure gives an indication as to how quickly EtherVista has been adopted and that there is a ton going on under the hood.
Issues and Critics of Ethervista
Ethervista has had some hiccups since its initial success. It is too common with new platforms where buying and selling demand peaks, causing high congestion/network issues in newer dexes—broken.
Users complained about error 2000, which means failed transactions sometimes when they remove liquidity at LIDO contract level.
A crypto researcher named Stacy Muur, also saw the liquidity lock and tweeted, saying that a majority of this was for the ETH/USDT pair rather than new tokens, which need AntiRug protection. The publication reported that Muur took to Twitter, bemoaning the lack of a disclaimer—an absence that could have raised doubts among users as to what exactly they were signing up for when agreeing to lock away their cash.
ETH as the network fee for transactions is one of the factors that has facilitated EtherVista to step up its footprint in the wide Ethereum ecosystem.
Ethervista made its way to being the third-largest gas consumer on Ethereum within a day of launch after Uniswap and Tether. At the same time, a high gas usage of 22.5 ETH consumed ($7,500) has demonstrated the immediate impact of their Loom to Ethereum transfer solution but also highlighted scalability challenges for the current state of Ethereum infrastructure that we plan using more and more in coming months!
Future of EtherVista: The Next Big DeFi Project?
The launch of Ethervista would likely be an important addition to the broader Ethereum DeFi space, and it means there is a new place for token issuance/trading, which now speaks directly in competition with some larger networks like Solana or Tron. Fueled by the explosion in memecoin interest, these networks have been making little money but gaining a huge amount of new traders who feel at home among high-risk assets and rapid reward opportunities.
With a wider five-day liquidity lock period set to end on September 4, market observers are preparing for the possibility of chaos. It is possible that the unlock will result in price fluctuation as traders can now move and sell their VISTA tokens with less restriction.
On the other hand, if Ethervista is able to effectively see through its ‘deflationary plan’ and can retain user trust, it could easily find a huge niche in the DeFi hot-blowing landscape.
EtherVista: The Answer to Solana’s Pump.fun
A relatively new entrant in the crowded DeFi field, Ethervista seeks to offer an original token minting and trading experience that makes use of tokens on Ethereum. Drawing comparisons to Pump. Like Pumpfun, a gem on Solana that caught fire when it launched in January, Ethervista looks to take advantage of the insane memecoin market pump.
After having observed the success of fun, Ethervista wanted to build a platform that enabled users to launch their own tokens—which he saw particularly working well for memecoins—without any central authority.
Not only the various opportunities but also potential hazards associated with this burgeoning landscape, as demonstrated by Ethervista’s recent launch in a high-stakes environment like cryptocurrency trading and decentralized finance. The platform’s future actions will be watched by both crypto enthusiasts and skeptics trading the asset, as within days traders are up in gains.
