Who missed the code to wealth? Travala, the Web3 "Ctrip" supported by CZ, has risen more than three times

Original title: "Who missed the wealth code again? Web3 "Ctrip" supported by CZ tripled late at night"

Original author: Leek, Foresight News

In the early morning of December 13, the price of a token called AVA rose 300% in one hour, breaking through the $3 mark from around $0.8, setting a record high since October 2021. As of press time, the token was quoted at $2.6, with a 24-hour increase of more than 254%.

What caused the little-known AVA token to soar late at night?

At 11:49 p.m. on December 12, Binance founder and former CEO Zhao Changpeng posted a tweet on the X platform: "We invested in this crypto travel platform before the epidemic and before the crypto winter."

Image from X

And the tweet he forwarded was the project Travala referred to by the AVA token. On December 11, the crypto travel platform Travala announced that its annual revenue exceeded the $100 million annual milestone and announced that its token AVA and Bitcoin would be included in the strategic reserve.

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

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

Travala has received multiple rounds of financing since its establishment. According to Tracxn data, Travala has raised a total of US$1.62 million through five rounds of seed financing. The largest round of financing occurred on October 29, 2020, with an amount of US$1.25 million. Notable investors include Yellow, an institutional investor based in Thailand, and angel investor Mohammad Maaz. Other rounds of financing were concentrated between 2019 and 2022, with some of the financing amounts not disclosed. And Zhao Changpeng revealed that Binance had also invested in the platform in 2019 or earlier.

Travala's native token AVA was listed on Binance in July 2019, which is one of the important milestones in the development of the project. In addition, AVA is also listed on multiple exchanges, including KuCoin and Gate.io.

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

· Diversification of payment methods: Currently supports more than 90 cryptocurrencies for payment, including Bitcoin, Ethereum and Binance Coin (BNB). In addition, traditional payment methods such as credit cards and PayPal are also supported.

· Product expansion: From the initial hotel booking to the full range of services such as air ticket booking, travel activities and vacation packages, covering more than 220 countries and regions around the world.

· Cooperation with travel giants: Travala has established partnerships with traditional travel giants such as Booking.com and Expedia to provide users with more abundant travel options.

· Community and governance: Launch AVA Staking and Smart Program, users can get rewards by staking AVA and participate in the governance and decision-making of the platform.

· Recovery after the epidemic: Travala launched an innovative "travel points program" after the epidemic to attract users to return to the travel market, and announced that quarterly sales have gradually recovered to pre-epidemic levels.

Cointelegraph quoted its founder Otero as saying that with more resources, Travala expects to recruit new employees and introduce new incentives on its platform, adding: "Treasury funds will be strategically managed; as the crypto ecosystem continues to mature, we hope to be able to use our crypto reserves directly when necessary without conversion."

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

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