VISTA token surges following launch of pump.fun alternative Ethervista

VISTA, the native token of Ethervista, a Pump.fun-like platform on Ethereum, has made significant gains since its launch on September 1.

At the time of writing, VISTA was experiencing significant volatility with a daily high of $24.70 and a low of $13.71. The crypto asset’s daily trading volume was hovering around $53 million, while its market cap was $15.2 million, according to data from DEX Screener.

A day after its launch, the token reached an all-time high price of $28.80, but has since lost more than 50% of that value. VISTA’s post-launch rally was fueled by an increase in whale activity.

Notably, an investor who controls the first and third largest amounts of Vista purchased 79,070 Vista tokens for 10.5 WETH on September 1. The investor has sold 42,100 VISTA for 170.39 WETH in the past two days, making more than 16 times his initial investment.

According to Lookonchain, a whale named ‘frenulum.eth’ earned 274 ETH (approximately $696.7K) by trading VISTA in just two days, achieving a 134x return. The trader initially invested 2.05 ETH (approximately $5.1K) to purchase 52,822 VISTA tokens, which he later sold for 276.5 ETH (approximately $701.8K).

VISTA is a deflationary token with a limited supply of 1 million. Ethervista also has an automatic token buyback and burn mechanism designed to reduce the overall supply, which can increase the value of the token over time. The project has burned over 2.17% of its total token supply.

It’s time to explain how $VISTA works ⚡️
VISTA is a value-compounding deflationary currency.

What?

This means that Ethervista is constantly automatically buying and burning the token, increasing the base price each time. This is the type of feature that EthervistaDEX makes possible

With… pic.twitter.com/69LBf3ZQqT

— Ethervista (@ethervista) September 3, 2024

According to s4mmy.moca, one of the key features of Ethervista is a 5-day liquidity lock for creators, which protects against rug pulls, which often occur 2-4 days after a project launches. Pump.fun has often been plagued by scammers who release memecoins that are abandoned just hours after going live.

VISTA has been gaining traction after SunPump, a new memecoin platform on the Tron network, surpassed its predecessor Pump.fun by launching more tokens and generating higher revenues. According to data from DeFi Llama, the total value locked in the SunPump ecosystem reached $1.46 million, while annual fee income rose to $49.77 million.

But interest in memecoins has generally declined, with some of the most popular memecoins seeing sharp declines in value over the past year.