Trading Dominance Strikes Again! Binance Integrates Accommodation Platform, Travala Token AVA Surges 400%

Binance continues to expand its influence, penetrating further into the overall cryptocurrency industry. In addition to acquiring the accommodation platform Travala, it has now announced a merger between Travala and the flight booking platform TravelbyBit, leading to a remarkable surge in the value of Travala's token, AVA.

According to an official announcement by Binance, Travala.com and TravelbyBit have always been travel booking platforms friendly to cryptocurrencies. This strategic merger will involve product integration and eventual consolidation into one platform.

Flight Booking: Travala.com

Travala supports fiat currencies and over 29 mainstream cryptocurrencies (including Bitcoin, Ethereum, Litecoin, BNB, and BUSD) for payments, and migrated to Binance Chain in 2019, launching its own token AVA. This year, they also started accepting USDT (ERC20) as a payment option.

Notably, the AVA token surged by 400% within ten days, rising from a low of $0.1 on the 10th to around $0.38 at the time of writing, ranking at 189. Additionally, Poloniex, a veteran exchange invested in by TRON founder Justin Sun, listed the AVA token the previous week.

According to Travala's monthly report, users paying with credit cards still account for 47%, followed by Bitcoin at 25%, and crypto.com pay at 15%. Juan Otero, CEO of Travala.com, stated:

We share similar values with Binance and TravelbyBit, and fully endorse the vision for the future adoption of cryptocurrencies.

Cryptocurrency Rewards Milestone: TravelbyBit

TravelbyBit, launched in 2017, not only accepts cryptocurrencies but also rewards users with airline miles and additional Bitcoin incentives for each flight booking. Binance invested over $250 million in TravelbyBit in 2018 and collaborated in 2019 to launch a financial signing card.

Binance CEO Changpeng Zhao believes:

There's probably no better place to use cryptocurrencies than the moment you step into a new travel destination because you might not have the local currency.

Considering the low adoption and usage of cryptocurrency payments, a comparison reveals that Booking.com, Travala, and TravelbyBit have Alexa website rankings of 165, 97,000, and 540,000, respectively. There is still a significant gap compared to top travel platforms. It remains to be seen whether Binance's official entry can expand market share and potentially become mainstream, which is worth observing.