Changpeng Zhao’s recent announcement about investing in the crypto travel platform has driven a significant surge in the price of Travala’s native AVA token.
CZ’s announcement, Source: X
Zhao, the CEO of Binance, has recently revealed that Binance invested in the crypto travel platform Travala before the COVID pandemic and the crypto winter.
This announcement comes after Travala has hit $100 million in annual revenue. The platform has been playing a key role in increasing the adoption of cryptocurrency in the travel industry.
AVA price chart, Source: CoinMarketCap
Following CZ’s tweet, the AVA token has experienced a dramatic rise, increasing by as much as 20%. At the time of writing, the price of the AVA token has reached $2.51.
This surge in the token’s value highlights a growing interest in the platform and its potential in the crypto and travel sectors.
In addition to this achievement, Travala introduced a new strategy involving a treasury reserve that includes AVA and Bitcoin (BTC). This move is part of the company’s efforts to strengthen its position and promote further crypto adoption for travel bookings.
