This Altcoin Exploded by 300% After Changpeng Zhao (CZ) Tweeted About It

A current endorsement by former Binance CEO Changpeng Zhao (CZ) of the blockchain-driven journey platform Travala has skyrocketed its AVA token by greater than 300% within the final 24 hours.

The surge additionally follows a collection of bulletins, together with new market listings and milestone achievements for the corporate.

CZ’s Affect

On December 11, Travala reported that its annual revenues had reached $100 million, up from $59.6 million in 2023. This achievement was made attainable by the rising demand for flight and resort bookings paid utilizing crypto. It additionally coincided with the agency’s disclosure of a brand new technique: It intends to carry a portion of its treasury reserve in AVA and Bitcoin within the method popularized by Michael Saylor’s MicroStrategy.

Nevertheless, Zhao’s December 12 post on X highlighting his agency’s early funding in Travala, relationship again to the pre-COVID period, tipped the scales, getting the market excited and fueling investor curiosity.

Hailed as one of many “OG of Crypto” by some X customers, Zhao’s affect throughout the blockchain and crypto sector is well-documented. By drawing consideration to Binance’s early involvement, he not solely bolstered Travala’s credibility but additionally signaled its potential for long-term progress – at the very least that’s how the market took it primarily based on the value’s efficiency.

Based on the social metrics platform LunarCrush, CZ’s publish, seen greater than 1.3 million occasions, induced a marked rise in AVA-related social exercise. In consequence, it skilled an explosive 350% worth rally, leaping from $0.75 to a peak of $3.38 in simply someday.

Efficiency and Outlook

On the time of this writing, the token was nonetheless virtually 310% greater than its degree from 24 hours in the past. Its present worth additionally represents a 286.6% enchancment over seven days and an much more spectacular 541% bounce over 30 days.

Moreover, it registered a 24-hour buying and selling quantity exceeding $890 million per information from CoinGecko, a 28,436% enhance throughout the interval, highlighting the catalytic nature of CZ’s publish.

With a circulating provide of 56.3 million models, every costing over $3.00, AVA now boasts an almost $172 million valuation, putting it at #445 on the checklist of cryptocurrencies with the most important market caps.

The token has massively outperformed the broader crypto market, which is down 2.20% within the final seven days, and related Ethereum ecosystem property, that are up 12.7% on common.