VISTA up over 60% following launch of pump.fun alternative Etherfun

VISTA surged 74% in the past day as decentralized exchange Ethervista launched token distributor Etherfun.

VISTA rose from $8.41 on October 28 to an intraday high of $38.54 on October 31; This represents an increase of over 350%. The price increase increased VISTA’s market value from $8.9 million to $31.8 million as of press time.

The altcoin’s rally coincided with trading volume rising 63% to over $22.6 million in the past day.

Vista’s rally began on October 28 with the launch of Etherfun, an Ethereum-based token issuer. Etherfun aims to capitalize on the popularity of similar platforms such as Solana’s Pump.fun and Tron’s Sun Pump, both of which have garnered significant attention within the meme coin community.

According to official documents shared by Ethervista, Etherfun “takes what Pump.fun started,” improves its features, and “combines it with Ethervista’s innovations” to offer a world-class memecoin trading and launch platform optimized for Ethereum’s high gas costs.

What makes the platform different is that the liquidity from tokens launched on Etherfun is permanently locked in Ethervista, and a portion of the fees is used to automatically buy and burn VISTA tokens.

Within a day of launch, 100 tokens were deployed on the platform.

The excitement around the new platform also led Ethervista’s decentralized exchange to surpass SushiSwap in 24-hour trading volume, adding further momentum to today’s rally.

As of the latest data, Ethervista’s DEX recorded a trading volume of approximately $5.62 million, while SushiSwap’s volume remained at just over $3 million.

As one community member observed, VISTA had been trading in an accumulation zone since late September before the Etherfun launch. The launch helped it break out of this zone, a move that is often seen as a bullish signal.

But technical indicators are flashing warning signs. VISTA was trading above the upper Bollinger Band at $29.13; This indicates that it is well above overbought levels, which often causes prices to reverse in the short term.

VISTA 24-hour price, Bollinger Band and RSI chart — October 31 | Source: TradingView

Meanwhile, the Relative Strength Index also rose to the overbought zone on October 28 and continued to rise to 87, confirming that there could be a bounce back in prices in the coming days.

However, social sentiment around the altcoin continues to rise, and many traders on X expect VISTA to reach a new all-time high. Despite bearish technical indicators, strong community enthusiasm and solid fundamentals could keep the token’s bullish momentum alive and potentially cause prices to rise further in the short term.