Ethervista (VISTA), an Ethereum Layer-2 network, has emerged as a profitable protocol in the crypto space. Following a recent spike in investors’ adoption, some industry experts now believe VISTA could be the new altcoin for millionaires.
Launched on September 1, Ethervista’s increasing traction is due to its unique approach to token launches and liquidity management.
Profitable Ethervista Trade Spotted On Chain
Blockchain analytics platform Arkham Intelligence reported a trader’s profitable VISTA trade spotted on chain earlier today. According to the details, the trader with wallet address 0x430 bought $5,000 worth of VISTA tokens during the launch, securing over 5% of the supply.
Shortly after, the investor split his VISTA holdings across seven different wallets to sell them. After two days, the trader made profits of over 130 times his initial investment, valued at over $670,000. This huge return on the trader’s investment follows a 1,447% surge in VISTA’s price two days after its launch.
Crypto analyst S4mmyEth says the industry sees Ethervista as an alternative to the Solana-based Pump.Fun platform. S4mmyEth stated in an X post,
“Ethervista is being described as the Pump Fun of ETH.”
Ethereum Decentralized Finance (DeFi) users, frustrated with the lack of innovation on the Ethereum mainnet, now find Ethervista an appealing alternative. The Ethervista network aims to exploit an opportunistic gap in the market with its innovative Liquidity Provider (LP) and fee mechanisms.
A Rise in New Altcoins
VISTA, the native asset of the Ethervista network, released its Whitepaper on August 31, promoting a fair launch with a liquidity lock of 5 days. This approach helps mitigate rug pull attacks, usually within the first two to four days of a project’s launch.
Upon launching, VISTA hit an all-time high of $28.80 and a market capitalization of $15 million. As of this writing, VISTA’s market capitalization has risen to $17.9 million, with the price set at $18.30, per data from DEX Screener.
The release of VISTA follows the launch of new altcoins, including Notcoin (NOT), DOGS, SUNDOGS, and others. Launched on The Open Network (TON) platform, DOGS is a relatively new project that has swept through the market with massive hype.
Price prediction for the token remains bullish for the season ahead.
Crypto Market Outlook, Bitcoin, and Expected Bull Run
The crypto market continues to experience fluctuations, with top cryptocurrencies failing to establish balance. For instance, Bitcoin (BTC), the world’s leading digital asset, has traded sideways within the $58,000 to $60,000 price range for the past few days.
Approximately 7 million BTC addresses are currently at a loss, with most coins purchased between $61,700 and $70,500. At press time, BTC’s price was at $58,567, up 0.67% in the past day. Market sentiment for the coin remains bearish, while the Fear & Greed Index shows Fear.
Nonetheless, market participants anticipate that the upcoming US Federal Reserve rate cut in September might help push the market into the next bull run.
