Title: AVA Token Skyrockets After Binance Investment Announcement

The AVA token, a little-known cryptocurrency, saw its price surge by 300% in one hour on December 13, briefly breaking through the $3 mark from around $0.8. As of press time, the token was quoted at $2.6, with a 24-hour increase of over 254%.

The reason for the sudden price increase is believed to be due to a tweet by Binance founder and former CEO Changpeng Zhao (CZ) on December 12. He announced that Binance had invested in the crypto travel platform Travala before the epidemic and the cryptocurrency winter. Travala, the project associated with the AVA token, announced on December 11 that its annual revenue had exceeded the $100 million milestone.

The platform’s tokens, AVA and Bitcoin, would be included in its strategic reserves. Travala is a platform that combines blockchain technology and travel services to promote convenience and transparency in global travel through cryptocurrency payments. The company was founded by Juan Otero, who previously held senior positions in several technology companies and entrepreneurial projects.

Since its establishment, Travala has raised a total of $1.62 million through five rounds of seed financing. The largest round of financing occurred on October 29, 2020, amounting to $1.25 million. Notable investors include Thailand-based institutional investor Yellow and angel investor Mohammad Maaz.

The AVA token was listed on the Binance exchange in July 2019, which is considered an important milestone in the project’s development. In addition to Binance, the token is also listed on multiple exchanges, including KuCoin and Gate.io. Over the past few years, Travala has made progress in several areas, including diversified payment methods, product expansion, cooperation with travel giants, community and governance, and post-epidemic recovery.

The company is expected to use its treasury funds strategically as the crypto ecosystem continues to mature. Travala did not disclose the amount of its Bitcoin and AVA reserves at launch. However, its founders mentioned that as the business and market continue to mature, they may consider introducing other tokens to the vault in the future.

Source

<p>The post Who has missed the wealth code again? Web3 Ctrip Travala, which won the CZ platform, has more than tripled its price first appeared on CoinBuzzFeed.</p>