Former Binance CEO, Changpeng Zhao (CZ), continues to maintain a strong influence in the crypto community. This was recently evidenced when a tweet from him about the leading cryptocurrency travel platform, Travala, led to a 300% surge in the platform's AVA token within just one hour.
CZ's tweet appeared as an implicit endorsement, as he responded to Travala's post celebrating a significant revenue milestone. In his post on platform X, he shared:
"We invested in this cryptocurrency travel platform before the COVID pandemic and the crypto winter, and we continue to maintain it."
AVA 1-day price chart | Source: TradingView
In 2024, Travala achieved revenue of over 100 million USD, a 67% increase from 59.6 million USD in 2023. This growth was driven by a strong increase in flight and accommodation bookings on the platform, with the ability to pay with over 100 types of cryptocurrency.
To strengthen its financial position, Travala announced plans to establish a Bitcoin and AVA reserve fund. The company stated that this move would help expand financial strength and support incentive programs, while affirming its position in the blockchain-based travel sector.
Travala has continuously pushed for innovation in the travel industry, pioneering the acceptance of payments in various digital assets. One of the company's standout projects is Dtravel – a decentralized alternative to Airbnb, where hosts have ownership rights over a portion of the platform.
Binance: Continuing strong investments in blockchain
Binance is also ramping up investments in the blockchain ecosystem. Over the past year, Binance Labs has launched several major projects, including a partnership with Kernel to develop restaking infrastructure on the BNB Chain, supporting the integration of tokens like BTC and BNB.
Additionally, Binance has invested in BIO Protocol, a project that promotes decentralized scientific research, and funded Lombard, a company specializing in Bitcoin liquid staking. These initiatives affirm Binance's commitment to supporting groundbreaking projects and expanding the global blockchain ecosystem.