A latest endorsement by former Binance CEO Changpeng Zhao (CZ) of the blockchain-driven journey platform Travala has skyrocketed its AVA token by greater than 300% within the final 24 hours.
The surge additionally follows a sequence of bulletins, together with new market listings and milestone achievements for the corporate.
CZ’s Affect
On December 11, Travala reported that its annual revenues had reached $100 million, up from $59.6 million in 2023. This achievement was made potential by the rising demand for flight and lodge bookings paid utilizing crypto. It additionally coincided with the agency’s disclosure of a brand new technique: It intends to carry a portion of its treasury reserve in AVA and Bitcoin within the method popularized by Michael Saylor’s MicroStrategy.
Nonetheless, Zhao’s December 12 post on X highlighting his agency’s early funding in Travala, relationship again to the pre-COVID period, tipped the scales, getting the market excited and fueling investor curiosity.
Hailed as one of many “OG of Crypto” by some X customers, Zhao’s affect throughout the blockchain and crypto sector is well-documented. By drawing consideration to Binance’s early involvement, he not solely strengthened Travala’s credibility but additionally signaled its potential for long-term development – not less than that’s how the market took it based mostly on the value’s efficiency.
In keeping with the social metrics platform LunarCrush, CZ’s put up, considered greater than 1.3 million instances, triggered a marked rise in AVA-related social exercise. Because of this, it skilled an explosive 350% worth rally, leaping from $0.75 to a peak of $3.38 in simply sooner or later.
Efficiency and Outlook
On the time of this writing, the token was nonetheless virtually 310% larger than its stage from 24 hours in the past. Its present worth additionally represents a 286.6% enchancment over seven days and an much more spectacular 541% bounce over 30 days.
Moreover, it registered a 24-hour buying and selling quantity exceeding $890 million per knowledge from CoinGecko, a 28,436% enhance throughout the interval, highlighting the catalytic nature of CZ’s put up.
With a circulating provide of 56.3 million items, every costing over $3.00, AVA now boasts a virtually $172 million valuation, inserting it at #445 on the record of cryptocurrencies with the biggest market caps.
The token has massively outperformed the broader crypto market, which is down 2.20% within the final seven days, and related Ethereum ecosystem belongings, that are up 12.7% on common.
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