Travala’s native token, AVA, saw a notable 300% price increase following a tweet by former Binance CEO Changpeng “CZ” Zhao.
CZ recalled that Binance invested in this crypto travel platform before the COVID-19 pandemic and the subsequent “crypto winter” and expressed Binance’s commitment to developing long-term projects.
“We invested in this crypto travel platform pre-COVID-19, pre-crypto winter and we kept going. BUILD!” he tweeted.
Travala, a crypto-friendly travel booking platform, supports a wide range of cryptocurrency payment options. The platform’s AVA token, developed by the AVA Foundation, forms the backbone of its blockchain-based loyalty ecosystem.
Interestingly, however, AVA is one of the altcoins that Binance categorized as “risk” in October. The exchange categorized this token and 9 others as risky because they have implemented significant changes to their tokenomics and supply over the past 18 months.
“Going forward, listed tokens that undergo significant changes to their tokenomics or experience a significant increase in token supply will also be subject to the risk alert banner and pop-up notification,” Binance warned.
*This is not investment advice.
