Some cryptocurrency are positioned to benefit from seasonal booms. Travala AVA is one such digital asset. It is part of a network that leverages blockchain technology for seamless operations.
The crypto community is currently surprised at the recent spike in Travala’s native token, AVA. After the increased demand for Travala’s services including hotels and flights, the price of the coin shot through the roof on August 24th.
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Travala, a platform for travelers that lets them book with cryptocurrency and fiat currency, is in high demand as the number of travel activities increases. That’s why the AVA token jumped to $1.24, pushing its market cap above $50 million.
This price, according to data is the highest AVA that has been climbed since August’s beginning. The price represents an 81% increase over its previous July low.
Following the increase in travel, the crypto token market price increased. According to the company’s website, there was an increase in room and flight bookings. In July alone, 2,057 passengers booked flights. Additionally, revenue increased by 47% and Smart memberships were added to the company.
Another factor that pushed AVA’s price is the increase in staking activities. Based on current data, smart users are believed to have captured more than 16.7% AVA available supply for rewards. Additionally, travelers made greater crypto payments to their bookings that fiat currencies.
Analysts predict a bearish trend in the AVA price
AVA’s four-hour price chart shows that the token has maintained its bullish trend for some days. AVA’s June low of $0.4570 has increased to $1.2490 by August 24, according to the study.
AVA’s 20-day and fifty-day moving averages have been exceeded by the movement. The ascending trendline has been shown in black and the Relative Strength Index, (RSI), has moved above the overbought mark. The sellers are expecting a new support area at $0.8487 to indicate a possible downwards trend in AVA price.
Given recent AVA price fluctuations, Travala users might be surprised by this prediction. Investors expect greater growth in the tourism industry as it recovers. Source: AVAUSD price chart from TradingView.com
What’s So Unique About Travala?
Each crypto project has a distinct value proposition. Travala is an open-source platform built on blockchain that facilitates smooth transactions within the travel sector. Through its platform interface, users can access more than 2 million hotels and other accommodations. Travala users are able to use crypto instead of credit/debit cards.
Travala.com’s native token is AVA. It is based on Ethereum, Binance Chain and Binance Smart Chain. The token is used by travelers to pay for flights, hotel stays, and other accommodations.
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AVA users can get a discount of 3% on all bookings and a 22% return by paying with AVA. This token is also used to vote for Travala users and allows them access its Proof of Travel NFT program.
Currently, Travala’s competitors include TripAdvisor, Priceline, and Expedia.
Featured image by Pixabay, chart from TradingView.com