Two days ago, Travala Announce its annual revenue milestone of over $100 million and include its tokens AVA and Bitcoin in strategic reserves.

Writing: Leek，Foresight News

On the early morning of December 13th, the price of a token called AVA rose by 300% within an hour, breaking through the $3 mark from around $0.8 in the short term and setting a new high since October 2021. As of press time, the token is priced at $2.6, with a 24-hour increase of over 254%.

What caused the unknown AVA token to skyrocket late at night?

At 11:49 pm on December 12th, Zhao Changpeng, founder and former CEO of Binance, tweeted on the X platform: 'We invested in this cryptocurrency travel platform before the pandemic and the cryptocurrency winter.'.

And the tweet he forwarded is exactly the project Travala referred to by AVA token. On December 11th, the cryptocurrency travel platform Trawala announced its annual revenue milestone of over $100 million and announced the inclusion of its tokens AVA and Bitcoin in its strategic reserves.

According to Cointelegraph, Juan Otero, co-founder and CEO of the cryptocurrency travel platform Travala, stated that this milestone reflects a significant increase in revenue compared to the platform's $59.6 million revenue in 2023. He explained that the surge is mainly driven by flight and hotel bookings, and the platform can use over 100 cryptocurrencies to pay for orders.

Travala It is a platform that combines blockchain technology and tourism services, aiming to promote global travel convenience and transparency through cryptocurrency payments. Its founder is Juan Otero, who held senior positions in multiple technology companies and entrepreneurial projects before founding Travala. In 2017, Juan Otero founded Travala, headquartered in the UK. Its original intention is to transform the tourism booking industry through blockchain technology, making travel more convenient, efficient, and economical.

Travala has received multiple rounds of funding since its establishment. According to Tracxn data, Travala has raised a total of $1.62 million through five rounds of seed funding. The largest round of financing occurred on October 29, 2020, with an amount of $1.25 million. Investors worth noting include Yellow, an institutional investor based in Thailand, and Mohammad Maaz, an angel investor. The other rounds of financing were concentrated between 2019 and 2022, with some financing amounts undisclosed. And Zhao Changpeng revealed that Binance had also invested in the platform before 2019.

Travala The native token AVA was launched on the Binance exchange in July 2019, which is one of the important milestones in the development of the project. In addition, AVA has also been launched on multiple exchanges, including KuCoin Gate.io。

Trawala has made some progress in the past few years, mainly including:

Diversified payment methods: Currently supports over 90 types of cryptocurrency payments, including Bitcoin, Ethereum, and Binance Coin (BNB). In addition, it also supports traditional payment methods such as credit cards and PayPal. Product Expansion: From initial hotel bookings to comprehensive services such as flight bookings, travel activities, and vacation packages, covering over 220 countries and regions worldwide. Collaboration with travel giants: Travala has established partnerships with traditional travel giants such as Booking.com and Expedia to provide users with richer travel options. Community and Governance: Launch AVA Staking and Smart Program, where users can receive rewards by staking AVA and participate in platform governance and decision-making. Recovery after the epidemic: Travala After the epidemic, an innovative "Travel Points Program" was launched to attract users back to the travel market, and it was announced that quarterly sales gradually returned to pre epidemic levels.

Cointelegraph quoted its founder Otero as saying that with more resources, Travala It is expected that new employees will be recruited and new incentive measures will be introduced on its platform, and it is added that "treasury funds will be strategically managed; as the crypto ecosystem continues to mature, we hope to be able to directly use our crypto reserves when necessary without conversion

Travala did not disclose the amount of its Bitcoin and AVA reserves at the time of launch. But its founder said that as the business and market continue to mature, they may consider introducing other tokens to the vault in the future.

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