$AVA
Travala’s AVA token surged 300% in an hour after former Binance CEO Changpeng Zhao (CZ) revealed that Binance had invested in the crypto travel platform before the pandemic.
CZ’s tweet highlighted Binance’s continued support for Travala, which has fueled renewed interest in the project.
The announcement coincided with Travala surpassing $100 million in gross annual revenue, a significant jump from $59.6 million in 2023. In its latest post, the company attributed the growth to an increase in flight and hotel bookings, which customers can pay for using over 100 crypto assets.
Additionally, Travala revealed plans to establish a Bitcoin and AVA reserve, to further develop and advance the blockchain-based travel industry.
Founded in 2017, Travala.com is a blockchain-based travel booking platform that offers over 3 million travel products in over 230 countries. The platform accepts payments in a variety of crypto assets, including its native token, AVA.
Since its inception, Travala has introduced innovations in decentralized travel. In 2021, the platform launched Dtravel, a blockchain-powered Airbnb competitor. Dtravel offers hosts a stake in the platform, differentiating itself in the peer-to-peer travel market.
Meanwhile, Binance continues to expand its investments in blockchain, with Binance Labs backing multiple projects in 2024. Recent initiatives include a partnership with Kernel to build a restaking infrastructure on BNB Chain, integrating tokens like BNB and BTC
