- Trader turned $5K into $670K with Ethervista’s token launch.
- Ethervista’s VISTA token surged 15 times in value in 24 hours.
A trader identified as 0x430 achieved a notable profit by investing $5K into Ethervista, a new Ethereum Layer-2 network. Within 48 hours of the token launch, this investor turned their initial stake into $670K, reported prominent data aggregator platform, Arkham Intelligence.
Ethervista has attracted significant attention in the Ethereum DeFi sector due to its innovative approach to liquidity management and token distribution. The platform, which launched its VISTA token recently, has been positioned as an alternative to the Solana-based PumpFun. In just the past 24 hours, Ethervista saw substantial activity, consuming over 150 ETH in gas fees, while the price of VISTA surged by 15 times its initial value.
Meanwhile, according to data from Dune Analytics, the largest and third-largest VISTA holders are controlled by the same individual. This investor initially purchased 79,070 VISTA tokens for 10.5 WETH on September 1 and sold 42,100 VISTA tokens over the following two days, generating 170.39 WETH in returns.
More Details On Ethervista
Ethervista’s approach includes a fair launch strategy with a five-day liquidity lock to mitigate risks such as rug pulls. The platform has also implemented a fee mechanism for token swaps, with fees in ETH distributed to liquidity providers. Within five hours of launching, Ethervista generated $25,000 in fees.
The VISTA token features a deflationary model with a cap of 1 million tokens and a burn mechanism to reduce the supply. Over $200,000 worth of VISTA tokens have been burned to date.
Looking forward, Ethervista plans to introduce additional features including ETH-BTC-USDC pools, lending, and fee-less flash loans. Investors should note that the first unlock of VISTA LP tokens is scheduled for September 4. And caution is advised as the platform continues to develop.
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Source: https://thenewscrypto.com/trader-nets-670k-with-ethervista-token-amidst-15x-price-surge/