VISTA saw a significant surge of 74% over the last day as the decentralized exchange Ethervista launched its token deployer, Etherfun.

VISTA’s price skyrocketed from $8.41 on October 28 to an intraday high of $38.54 on October 31, marking an impressive increase of over 350%. This price surge boosted VISTA’s market capitalization from $8.9 million to $31.8 million as of the time of writing.

The altcoin’s rally coincided with a notable jump in its trading volume, which reached over $22.6 million, up by 63% over the past day.

Launch of Etherfun

Vista’s rally began on October 28, driven by the launch of Etherfun, an Ethereum-based token deployer. Etherfun aims to capitalize on the popularity of similar platforms within the meme coin community.

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

What distinguishes the platform is that liquidity from tokens launched on Etherfun is permanently locked on Ethervista. Additionally, a portion of the fees is used to automatically buy and burn VISTA tokens. Within a day following its launch, 100 tokens had already been deployed on the platform.

Trading Volume and Market Impact

The excitement surrounding the new platform also propelled Ethervista’s decentralized exchange past SushiSwap in 24-hour trading volume, adding further momentum to VISTA’s rally.

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

Technical Indicators and Market Sentiment

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

However, technical indicators are flashing warning signs. VISTA was trading above the upper Bollinger Band at $29.13, suggesting it was far above overbought levels, which typically leads to a price reversal in the short term.

Meanwhile, the Relative Strength Index (RSI) has also risen to overbought territory on October 28 and has continued to rise to 87, further confirming that a price reversal may be looming in the upcoming days.

Yet, social sentiment around the altcoin remains bullish, with many traders expecting VISTA to hit a new all-time high. Despite 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.

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