ravala's $AVA token is up more than 290% in the last 24 hours, moving from a low of $0.73 to a high of $3.01. And the move higher has been extremely violent. The 24-hour trading volume jumped to 91.8 million– a 2,518% jump from the prior day.
This formidable rally, however, corresponds to a series of high-profile events that include Travala reporting more than $100 million in annual revenue and the recent launch of its Bitcoin and $AVA Treasury Reserve Plans. This sets the stage for interest by both crypto users and investors alike.
Reserve Treasury Strategy Paired with Revenue Milestones Drive Confidence
In a statement, Travala revealed that it has reached over $100 million in annual revenue, an incredibly impressive milestone according to the platform and a testament to continued growth and mainstream adoption. In accomplishing this milestone, Travala sets up camp as a solid competitor among traditional providers of travel services, with some unique blockchain-based services on top.
However, the revenue announcement has exposed a potential valuation gap, with Travala currently at a market capitalization of $148 million, which could suggest that the $AVA token is undervalued relative to the $AVA revenue potential.
Notably consistent with this revenue milestone, Travala has also launched a Bitcoin and $AVA Treasury Reserve Plan likely to incentivize investor confidence in the $AVA ecosystem, hence giving it a distinctive and long-term vision of financial stability and liquidity. Also, the Treasury Reserve Plan is expected to reduce sell pressure, increase liquidity, and confidence in the $AVA ecosystem.
Speculation Marches On Despite Feasible All-Time High
Even at $3.01, the token has quite a way to go before it reaches its all-time high of $6.45, reached on April 14, 2021. This is doing little to quash a positive market sentiment for AVAX, though, with many traders predicting further growth.
Meanwhile, an increasing group of investors is sitting on the sideline, and the latest rally brought $AVA back into the spotlight, raising questions as to whether this can be the increase that shoots the token into a new breakout or if there's a correction coming around the corner.
AVA Utility and Adoption
The increasing use case of $AVA in the Travala ecosystem made the token more attractive for both users and investors because it is a utility token that provides rewards in the form of loyalty, discount travel, and also a right to vote, which is the main component in the Travala ecosystem.
Its platform covers more than 2 million listings across the world, according to Travala's website, and the company lets users pay for bookings using over 100 different cryptocurrencies– the highest level of flexibility in the travel space. Moreover, programs such as the AVA Smart Program are taking it to the next level with cashback rewards, concessions, and perks, hence increasing the use of the token.
While $AVA has solid fundamentals and has been more in adoption recently, this places it in a good position to be among those beneficiaries in the crypto market. This may not translate to new highs, but this innovative usage of blockchain by Travala cements this hospitality project into the centre of competition.
.webp)
%3F%20500%20x%20288%20(6).webp)
