A current 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 collection 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 attainable 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.
Nevertheless, Zhao’s December 12 submit on X highlighting his agency’s early funding in Travala, courting 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 bolstered Travala’s credibility but additionally signaled its potential for long-term progress – a minimum of that’s how the market took it based mostly on the worth’s efficiency.
In line with the social metrics platform LunarCrush, CZ’s submit, seen greater than 1.3 million instances, prompted a marked rise in AVA-related social exercise. In consequence, it skilled an explosive 350% value 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 nearly 310% larger than its stage from 24 hours in the past. Its present value additionally represents a 286.6% enchancment over seven days and an much more spectacular 541% leap 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 submit.
With a circulating provide of 56.3 million items, every costing over $3.00, AVA now boasts an almost $172 million valuation, inserting it at #445 on the record of cryptocurrencies with the most important market caps.
The token has massively outperformed the broader crypto market, which is down 2.20% within the final seven days, and comparable Ethereum ecosystem property, that are up 12.7% on common.
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