Travala’s AVA token experienced a 300% sign lengthen inside an hour after pale Binance CEO Changpeng Zhao (CZ) published that Binance had invested in the crypto lumber platform forward of the pandemic.
CZ’s tweet highlighted Binance’s persevered reinforce for Travala, driving renewed hobby in the mission.
Travala Accomplished $100 Million in Execrable Annual Revenue
The announcement coincided with Travala’s milestone of surpassing $100 million in immoral annual income, a prime soar from $59.6 million in 2023. In its most modern post, the corporate attributed this development to an lengthen in flight and hotel bookings, which prospects pays for the usage of over 100 cryptocurrencies.
“We invested on this crypto lumber platform pre-COVID, pre-crypto wintry weather, and held on. BUILD,” CZ posted on X (previously Twitter).
Also, Travala disclosed plans to place a Bitcoin and AVA reserve, to extra originate and growth the alternate for blockchain-essentially based mostly lumber.
Based in 2017, Travala.com is a blockchain-essentially based mostly lumber reserving platform that presents over 3 million lumber merchandise all over bigger than 230 international locations. It accepts payments from varied cryptocurrencies, at the side of its native token, AVA.
Since its inception, Travala has launched innovations in decentralized lumber. In 2021, the platform launched Dtravel, a blockchain-powered competitor to Airbnb. Dtravel presents hosts a stake in the platform, differentiating itself in the perceive-to-perceive lumber market.
Within the meantime, Binance continues to lengthen its blockchain investments, with Binance Labs backing plenty of tasks in 2024. Contemporary initiatives encompass a partnership with Kernel to form restaking infrastructure on the BNB Chain, integrating tokens fancy BNB and BTC.
In November, Binance Labs invested in BIO Protocol to advance decentralized scientific research funding. This initiative objectives to deal with key areas equivalent to cryopreservation, ladies’s neatly being, and mental neatly being through BioDAOs.
Also, in October, Binance Labs backed Lombard, a Bitcoin liquid staking platform. Lombard controls 40% of the Bitcoin liquid staking market. With the most recent funding, it’s specializing in rising its stable multi-chain staking protocol.
These trends underscore Binance’s assignment of supporting modern tasks all over diverse sectors in the blockchain ecosystem.
