Changpeng Zhao-led cryptocurrency exchange, Binance recently bolstered the price of a lesser-known asset. The exchange’s latest listing caused a more than a 19 percent increase in the price of the AVA token.
Binance’s Latest Addition
Cryptocurrencies have existed for more than a decade now. The entire industry has made headway in terms of both value and adoption. As the industry has been garnering increase popularity, people have been viewing cryptocurrencies as a means of payment as well, as opposed to just a store of value asset. Who would have thought that one could travel with cryptocurrencies while governments continue to view them as darknet currencies? Travala, made it possible to do so.
The crypto-friendly travel company, Travala made news after allowing its customers to make hotel bookings via cryptocurrencies. Apart from this, the platform went on to roll out its native cryptocurrency, the AVA token. In more recent updates, Malta-based cryptocurrency exchange, Binance made an announcement extending support for the Travala’s AVA token. The exchange shared the news with the community through its official Twitter handle. The tweet read,
— Binance (@binance) August 5, 2020
The world’s largest cryptocurrency exchange, Binance wrote a blog post elaborating on the same and pointed out that users would be able to buy and sell AVA tokens starting from 3:00 PM [UTC] on 5 August 2020. The AVA token was paired against prominent cryptocurrencies like Bitcoin [BTC], Binance Coin [BNB] as well as Binance USD [BUSD]. Additionally, the exchange revealed that it had acquired 0 BNB as a listing fee for its latest addition.
AVA Token’s Price Gets A Boost
Prominent cryptocurrency exchanges listing crypto assets have undoubtedly boosted the price of several coins in the past. The trend seems to have prolonged as Binance’s latest listing spurred up the price of the AVA token.
Earlier today, the AVA token was trading at a low of $1.62, however soon after Binance announced the news pertaining to its latest addition, the price of AVA shot up by a whopping 19.5 percent in just an hour. At the time of writing, the token was trading at $1.98. This further paved the way for speculations of the AVA token soon breaching $2.