Trader Turns $5K into $670K On Ethervista In Just 48 Hours

0x430 Address Page on Arkham — VISTA Trader (0x430) on Arkham

‍

Three days ago, a trader on Ethereum (0x430) acquired 51.649K Ethervista (VISTA) tokens, or about $4.79K worth, in three transactions. This was just over 5.1% of the total token supply of the VISTA token. After just 39 hours, the value of his position had increased to more than $500K. At this point, he began transferring the VISTA tokens out to five other wallets, likely belonging to him as well, before selling off his position from said wallets, netting him a profit of over $670K in ETH.

0x430's VISTA Transactions — Transfers from 0x430 to his other wallets

‍

Ethervista is a new automated market maker (AMM) model, which has been dubbed the ‘pump.fun of Ethereum’. It is designed to reduce the risks from rug pulls on new token launches and to incentivize liquidity in order to encourage long-term alignment between the project’s team and token holders. Rug pulls of low-liquidity token launches have become a growing problem amidst the memecoin craze of recent months. Ethervista combats this through customizability on their liquidity pool trading fee structure to enable teams to profit more from trading volume. Additionally, Ethervista also implements a five-day lock on the initial liquidity deposited, aiming to prevent an immediate rug pull within the first two to four days, which is when most token rug pulls typically occur.

Information provided herein is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Arkham makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information on this website and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, can lose value, and can even become worthless; additionally, digital assets are not covered by insurance against potential losses and are not subject to FDIC or SIPC protections. Historical returns are not indicative of future returns.

Trader Turns $5K into $670K On Ethervista In Just 48 Hours

Table of contents