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

A recent endorsement by former Binance CEO Changpeng Zhao (CZ) of blockchain-based travel platform Travala has caused its AVA token to skyrocket by over 300% in the past 24 hours.

The increase also follows a series of announcements, including new market listings and milestone achievements for the company.

CZ’s influence

On December 11, Travala announced that its annual revenue had reached $100 million, up from $59.6 million in 2023. This feat was made possible by the growing demand for crypto-paid flight and hotel bookings. It also coincided with the company’s disclosure of a new strategy: it intends to hold part of its cash reserve in AVA and Bitcoin in the manner popularized by Michael Saylor’s MicroStrategy.

However, Zhao’s Dec. 12 post on

Hailed as one of the “OGs of Crypto” by some X users, Zhao’s influence within the blockchain and crypto industry is well documented. By drawing attention to Binance’s early involvement, he not only boosted Travala’s credibility, but also signaled its long-term growth potential – at least that’s how the market perceived it based on of price performance.

According to social measurement platform LunarCrush, CZ’s post, viewed more than 1.3 million times, caused a marked increase in AVA-related social activity. As a result, the price saw an explosive 350% surge from $0.75 to a high of $3.38 in a single day.

Performance and outlook

At the time of writing, the token was still almost 310% higher than its level 24 hours ago. Its current price also represents a seven-day improvement of 286.6% and an even more impressive 30-day jump of 541%.

Additionally, he recorded 24-hour trading volume in excess of $890 million per CoinGecko data, an increase of 28,436% over the period, highlighting the catalytic nature of CZ’s position.

With a circulating supply of 56.3 million units, each costing over $3.00, AVA now boasts a valuation of nearly $172 million, placing it 445th on the list of cryptocurrencies with the highest largest market capitalizations.

The token has significantly outperformed the broader crypto market, down 2.20% over the past seven days, and similar assets in the Ethereum ecosystem, which are up 12.7% on average.