As an analyst with over two decades of experience in the tech and finance industries, I must admit that I am thoroughly impressed by Travala’s remarkable growth. Having witnessed the rise and fall of numerous startups, it is a breath of fresh air to see a company leveraging blockchain technology so effectively for real-world applications.
As a researcher delving into travel industry statistics, I’ve come across an interesting fact: This year, Travala has surpassed the $100 million mark in revenues, nearly doubling their earnings from last year, which stood at $59.6 million.
Based on the announcement, it’s noted that a growing number of individuals are choosing to book flights and hotels through this platform. Notably, they can opt for payment using over 100 distinct types of cryptocurrency during the transaction process.
To mark this milestone, Travala has established a Cryptocurrency Reserve Akin to a Savings Account. This reserve will secure Bitcoin and their native AVA token, aligning with the company’s future strategic plans.
Juan Otero, as the head of our company, mentioned their intention to employ cryptocurrency reserves directly in future operations, bypassing the need for conversion into cash. This strategic decision aims to maintain the company’s robustness and prepare it for sustained growth in the long term.
He stated that our latest Treasury Reserve Strategy, incorporating both Bitcoin and AVA, not only stimulates future expansion but also reinforces our dedication to defining the upcoming epoch in the travel industry.
Since its establishment in 2017, Travala has been an advocate of blockchain technology, utilizing it to streamline and secure travel reservations. Initially, they collaborated with the NEO blockchain platform. However, in 2019, they made a strategic move to Binance Chain to further optimize their operations.
Currently, this platform connects travelers to approximately 2.2 million accommodations, 400,000 experiences, and services from around 600 airlines in more than 230 countries.
In a remarkably brief period, our company has made significant strides. To rewind to 2020, annual revenues stood at a modest $4.4 million. However, with the surge of the crypto market, we skyrocketed to an impressive $41 million in 2021. While the figures experienced fluctuations, they hit an all-time high this year.
As a researcher studying the cryptocurrency market, I’ve noticed some fluctuations in Travala’s AVA token. In fact, it reached an impressive peak of $6.45 back in 2021. Yet, the current trading price is significantly lower, hovering around $0.70, as reported by CoinMarketCap.
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2024-12-11 21:40