Cryptocurrency-focused travel agency Travala has been making headlines lately with its moves. First, Travalai announced plans to create a dedicated Bitcoin (BTC) and AVA reserve.
Afterwards, former Binance CEO CZ shared a post reminding that Binance invested in this crypto travel platform before the COVID-19 pandemic and the “crypto winter” that followed.
Following CZ’s post, Travala’s native token AVA saw a notable 300% price increase.
While Travala and its token AVA have become quite popular in recent days, the Travala-connected wallet transferred $1.56 million worth of AVA to Binance after the price increase.
According to an on-chain analyst, a wallet connected to Travala transferred 600,000 AVA to Binance.
With this, the Travala wallet made its first recorded sale.
This wallet had previously received 8.21 million AVA from the project a year ago, representing 14.57% of the total circulating supply.
Apart from this, the wallet has withdrawn 1.76 million AVA (worth $1.32 million) from Binance in the last 11 months at an average price of $0.7497.
According to Arkham data, there are still 9.1 million AVA in the wallet, worth $26.4 million.
Following a tweet by CZ, AVA increased three-fold and is trading at $2.74 at the time of writing.
*This is not investment advice.
