VISTA Rose 74% Over the Last Day as Decentralized Exchange Ethervista Launched Its Token Deployer Etherfun

VISTA soared from $8.41 on Oct. 28 to an intraday high of $38.54 on Oct. 31, representing a surge of over 350%.

Native token of decentralized exchange Ethervista, VISTA, surged over 74% on Monday after the exchange launched its token deployer, Etherfun.

VISTA began Monday’s session trading at $8.41 before rising to an intraday high of $38.54 — a surge of over 350%. The price rally saw VISTA’s market capitalization surge from $8.9 million to $31.8 million at the last check.

The altcoin’s rally also saw its trading volume surge, with figures from CoinGecko showing it was up by 63% over the past 24 hours and stood at 22.6K.

VISTA’s surge began on October 28 with the launch of Etherfun, a decentralized token deployer on the Ethereum network. Etherfun is designed to capitalize on the popularity of decentralized platforms that enable users to launch tokens quickly and easily. Some examples include Solana’s Pump.fun and Tron’s Sun Pump, both of which have garnered interest within the meme coin community.

According to the official documentation shared by Ethervista, Etherfun is “taking what Pump.fun started,” enhancing its features, and “merging it with Ethervista’s innovations” for a premier memecoin trading and launch platform that is optimized for Ethereum’s high gas costs.

One key aspect of the integration is that liquidity from tokens launched on EtherFun is permanently locked on Ethervista, with a portion of the fees used to automatically buy and burn VISTA tokens. Within a day following its launch, 100 tokens had been deployed on the platform.

The buzz around the new platform also saw decentralized exchange Ethervista flip SushiSwap in terms of 24-hour trading volume, adding further momentum to today’s rally.

Latest figures from CoinGecko show that Ethervista’s DEX recorded a trading volume of approximately $5.62 million, while SushiSwap’s volume stood at just over $3 million.

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

However, technical indicators are showing signs that a correction could be on the horizon. At the last check, VISTA was trading above the upper Bollinger Band at $29.13, indicating that it is far above overbought levels, which typically leads to a price reversal in the short term.

Meanwhile, the Relative Strength Index also rose to overbought territory on Oct. 28 and has continued to rise to 87, further indicating that a price reversal may be coming in the upcoming days.

Despite the bearish technical indicators, strong community hype and solid fundamentals could keep the token’s upward momentum alive, potentially pushing prices higher in the short term.