Travala Token (AVA) surges 300% following CZ’s endorsement and Binance’s early investment

Source Cryptopolitan

Former Binance chief executive Changpeng Zhao (CZ) remains an influential voice within crypto circles. That emerged recently when CZ’s tweet about a leading crypto-centered travel platform saw its token rise exponentially within an hour. The crypto billionaire’s tacit endorsement of Travala on X spurred a 300% spike in the platform’s AVA token price. 

CZ was responding to Travala’s post celebrating a significant milestone in its revenues. His tweet came out as a tacit endorsement of Travala renewing interest in it.

His post went:

We invested in this crypto travel platform pre-COVID, pre-crypto winter, and held on. BUILD.

~Changpeng Zhao


In 2024, Travala grew its 2023 gross revenue by over 67%

Travala has made big strides in consolidating its position within the crypto-travelling/hospitality niche. In 2024, for instance, it recorded annual revenues of over $100 million, a massive jump from the $59.6 million it earned in 2023. 

The firm attributes that spike to an uptick in flight and accommodation bookings on its platform. Users can make reservations for these services in 100+ cryptocurrencies. 

Buoyed by this result, Travala announced it would be setting up its Bitcoin and AVA reserves. It says that the move was vital in expanding its financial muscle. With these additional funds, the company intends to strengthen its foothold within the blockchain-based travel industry and enhance its incentives program.

The firm has pushed innovation in the travel sector

Travala has always championed innovation in the travel sector. For instance, it pioneered crypto bookings using different digital assets. It also introduced Dtravel, a decentralized alternative to Airbnb. Unlike other P2P travel market services, Dtravel hosts have a share in the platform. 

Meanwhile, Binance is ramping up its blockchain investments. This year alone, its investment arm Binance Labs, undertook various major projects. One of these is its collaboration with Kernel to develop restaking infrastructure on its BNB Chain. This infrastructure will support the integration of tokens like BTC and BNB.

Again, Binance pivoted into decentralized scientific research by investing in the BIO Protocol to expand funding in the area. It also funded Lombard, which specializes in Bitcoin liquid staking. These developments highlight its commitment to supporting new projects across the blockchain ecosystem.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Outlook 2025As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
Author  TradingKey
Jan 23, Thu
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
May 08, Thu
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
goTop
quote