This Trader Turned $5k to $670K in Two Days on EtherVista

A cryptocurrency trader just witnessed their investment in a new token increase by 130x within 48 hours. The token is VISTA, the native asset of EtherVista, a layer-2 Ethereum-based network, which enables the launch of memecoins on the blockchain.

According to a tweet by on-chain intelligence firm Arkham, the trader, with a wallet address starting with 0x430, invested $5,000 in VISTA and ended up cashing out $670,000.

Trader 130x Investment in VISTA

The EtherVista team launched VISTA on August 31, and trader 0x430’s $5,000 acquired 5% of the token’s supply. They swapped two Ethers (ETH) to purchase thousands of VISTA.

Following the purchase, the trader distributed their VISTA holdings across seven wallets in preparation for offloading the tokens. After two days, they sold the assets by swapping them to ETH, realizing $670,000 in profit.

Data from DEX Screener shows VISTA was worth around $0.239 at its launch on August 31. However, the asset surged past $23 on September 2 and was hovering at $16.29 at the time of writing. Since its launch, VISTA has pumped 9,800%, with a market cap above $16 million. 

EtherVista’s Remarkable Features

EtherVista is similar to Solana’s memecoin launcher Pump.Fun and Tron’s SunPump; however, the protocol has a remarkable feature that makes it stand out. In line with the platform’s fair launch model, EtherVista has an anti-rug property that ensures memecoin developers lock their liquidity for five days before withdrawals are possible.

On-chain data has revealed that it takes two to four days for low-capitalization token developers to rugpull their projects and leave users hanging. EtherVista’s locking mechanism aims to solve some inefficiency issues on Ethereum’s decentralized finance platforms. With this solution, token creators cannot withdraw liquidity before other liquidity providers, and this fosters stability in early-stage projects.

Besides EtherVista’s locking mechanism, the protocol has a fee structure that incentivizes token creators and liquidity providers (LPs). Unlike most Automated Market Makers (AMMs), the network charges fees in ETH for each transaction, and the fees are distributed among token creators and LPs.

In addition, VISTA has an initial maximum supply of 1 million tokens with a buyback and burn mechanism that makes the asset deflationary.