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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

AVA Price Predictions Following Travala Demand Boom

Kent Tenix
Kent Tenix
2 years ago
3 mins read
AVA

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Some cryptocurrencies are seemingly positioned for seasonal booms. One of such digital assets is Travala AVA. The network behind it is a travel solution company leveraging blockchain technology to facilitate seamless operations. 

The crypto community is currently surprised at the recent spike in Travala’s native token, AVA. The coin price skyrocketed on August 24th following the increase in the demand for Travala services, including flights, hotels, and accommodation bookings. 

Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt

As a platform where travelers can handle their bookings with fiat and cryptocurrency, the demand for Travala services increases when traveling activities skyrockets. That’s why the AVA token jumped to $1.24, pushing its market cap above $50 million. 

According to data, this current price is the highest AVA has climbed since the beginning of August. It also represents an 81% gain from its lowest price in July. 

The crypto token price spiked following the rebound in traveling. The company website shared an increase in bookings, showing that users made 2,057 flights and 8,433 room bookings in July. Also, the company recorded a 47% increase in revenue and 6,568 new Smart members.

Another factor that pushed AVA’s price is the increase in staking activities. According to current data, Smart users have locked more than 16.7% of AVA circulating supply to earn rewards. Also, Travelers made more crypto payments for their bookings than fiat currency. 

Analysts Predict Bearish AVA Price Trend 

AVA’s four-hour price chart shows that the token has maintained its bullish trend for some days. The period studied shows that AVA has grown from a $0.4570 low price in June to $1.2490 on August 24. 

The movement indicates that AVA has crossed its 20-day and 50-day moving averages. In addition, the ascending trendline is now proven in black, while the Relative Strength Index (RSI) has moved beyond the overbought level. These movements indicate an imminent downwards trend for AVA price as sellers expect a new support zone at $0.8487.

This forecast might surprise Travala users, given the recent AVA price movement. However, investors expect more growth as the travel industry rebounds. 

AVAUSD
AVA’s price currently stands at around $0.8876. | Source: AVAUSD price chart from TradingView.com

What’s So Unique About Travala?

Every crypto project emerges with a unique value proposition. Travala is a blockchain-based platform facilitating seamless transactions in the travel industry. Its platform interface provides access to more than 2.2 million hotels and accommodations. The best part is that Travala users can pay with crypto and not just credit/debit cards.

AVA is the native token on Travala.com based on Ethereum (ERC-20), Binance Chain (BEP-2), and Binance Smart Chain (BEP-20). Travelers use the token to pay for their flights, hotels, and accommodations to earn more rewards. 

Related Reading: This Indicator Predicts Potential Decline Ahead For Bitcoin Price

By paying with AVA, users earn a 3% discount on total booking fees and a 2% giveback. The token also serves as the voting rights for users on Travala and unlocks its proof of travel NFT program.  

Currently, Travala’s competitors include TripAdvisor, Priceline, and Expedia. 

Featured image from Pixabay and chart from TradingView.com
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Kent Tenix
Kent Tenix

Kent Tenix

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on crypto, business, technology, or finance, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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