A cryptocurrency trader has booked a huge profit from buying the native token of a new platform called Ethervista, the latest decentralized exchange and token minting marketplace to launch on Ethereum.
The trader purchased $5,000 worth of VISTA tokens shortly after the Ethervista protocol launched. This purchase gave them approximately 5% of the total circulating supply of VISTA tokens, which went live on August 31.
The trader then distributed his VISTA holdings to seven different wallets to sell them, netting over $670,000 in ETH profits in just two days, according to a September 3 post on X from cryptocurrency information platform Arkham.
Ethervista is a new token minting marketplace that will operate on Ethereum, allowing users to create and launch their own tokens, primarily memecoins.
Some cryptocurrency experts describe Ethervista as “Ethereum’s answer” to Solana-based rival Pump.fun — a memecoin launchpad that has generated widespread adoption since its launch in January.
The retro-themed Ethervista platform has offered a “fair launch model” with 100% of the native VISTA tokens allocated to liquidity providers and locked for five days to prevent early withdrawals.
It has deflationary tokenomics with a maximum supply of one million and continuous token burning to reduce supply and increase the floor price.
However, some people have reported failed transactions when trying to remove liquidity.
Crypto researcher Stacy Muur noted the liquidity lockup but added that “it’s the ETH/USDT pair, not the newly created token that needs to be protected against fraud,” adding that there was no disclaimer to let users know.
Unlike traditional decentralized exchanges and markets, Ethervista charges fees in native ETH, which is distributed to liquidity providers and token creators.
Because it uses ETH to pay network fees, the platform's gas usage has skyrocketed, making it the third-largest gas consumer, after Uniswap and Tether, in the past 24 hours with 22.5 ETH
Ethervista was born to fill the void in the Ethereum DeFi space and compete with rival networks Solana, Base, and Tron that have attracted millions of dollars in revenue from numerous memecoin degens in recent months.
The Ethervista platform has seen massive attention from crypto market participants, with the market capitalization of its native token reaching $30 million just two days after its launch.
VISTA’s price has increased by 33% in the past 24 hours, reaching $21.19 at the time of writing, according to CoinGecko. The new token peaked at $28.80 on September 2, just days after its launch, however, the liquidity unlock on September 4 may cause volatility.
