Ethereum, the second largest cryptocurrency, is witnessing stalled enthusiasm from crypto participants amid Vitalk’s recent comment on downplaying DeFi, the ETH/BTC pair downtrend, and sustainable outflow in ETH ETFs. Amid the challenging period, the newly launched decentralized exchange (DEX) EtherVista gathers investors’ attention to Ethereum coins with a fair launch model and fee mechanisms.
Ethereum Coins Gain Momentum as EtherVista Challenges Solana’s PumpFun
EtherVista, a newly launched decentralized exchange (DEX), has rapidly gained attention with a $27 million market cap in a matter of hours. The project is called Solana’s PumpFun competitor, as it offers customized parameters to newly launched tokens and attracts long-term liquidity providers with bonding curves and revenue sharing.
EtherVista introduces a 5-day locking period on the initial liquidity provision by new creators, as research shows most rug pull events occur between 2-4 days. The system provides confidence to retail investors and token stability during crucial early phases. Unlike traditional percentage-based fees, EtherVista employs hard-coded buy and sell fees that benefit liquidity providers (LPers) and the coin’s creator.
The platform offers a smart contract facility to handle and aims to expand services such as ETH-BTC-USDC pools, lending, futures, and fee-less flash loans. VISTA is the deflationary token of EtherVista with a capped supply of 1 million tokens. Its value is designed to increase from the token-burning mechanism.
A new dark horse $VISTA
Pump fun now has a competitor on Eth.
The Eth maxis are in a dire state with Vitalik tweeting that DeFi doesn’t matter, ETHBTC hitting new lows, ETF inflows slowing down, and Layer 2 fragmentation resembling a shattered mirror.@ethervista seems… pic.twitter.com/ai66LYHrse
— Trissy (@Cryptotrissy) September 2, 2024
Uniswap (UNI)
The potential success of EtherVista will create a competitive environment for other Ethereum coins like Uniswap (decentralized cryptocurrency exchange). Thus, Uniswap protocol could progress towards new updates and features to retain its market value.
According to a recent tweet from Uniswap Labs, the protocol winessed over 300 Million by August, marginally exceeding last year’s record. The surge in transaction activity projects some of the core growth parameters for Defi networks, highlighting the increase in user engagement.
Over 300M swaps on the Uniswap Protocol this year
And there’s still four months to go pic.twitter.com/P3c1XvpS8b
— Uniswap Labs (@Uniswap) August 26, 2024
By press time, the UNI price had traded at $6.28, boosting a market cap of $3.77 billion. With the recent market upswing, the buyers are heading for a major breakout from the $7 barrier.
Aave(AAVE)
As new coins launch on EtherVista, the demand for decentralized lending and borrowing services will likely rise. Among the Ethereum coins, the Aave platform could benefit the most from higher usage and drive natural growth in AAVE price.
Moreover, the AAVE labs announced the launch of Sky Aave Force in collaborative Sky (formerly MakerDAO). The initiative aims to drive mass adoption and bridge the gap between decentralized finance (DeFi) and traditional finance (TradFi).
Turbocharging DeFi: Introducing Sky Aave Force pic.twitter.com/foY4LqQj6j
— Aave Labs (@aave) September 3, 2024
Amid this development, the AAVE price is up 8.5% is the last 24 hours to trade at $132, while the market cap surged to $1.97 Billion.
Shiba Inu (SHIB)
Similar to Solana’s Pumpfun, the EtherVista project could drive a meme coins mania in the Ethereum ecosystem. This environment will allow Ethereum coins like Shiba Inu, Pepe, and Floki to gain traction and drive a sustainable recovery.
According to Santiment data, the SHIB supply on exchange has witnessed a continuous decline, currently recorded at 75.5 Trillion coins. This indicates the investors are actively withdrawing SHIB from exchanges, signaling an accumulation trend.
SHIB Supply on Exchanges | Santimen
The Shiba Inu price trades at $0.000013 and maintains a market of $8.03. With sustained bullish momentum, the SHIB price is heading for a $0.00002 breakout.
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