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Crypto Hotel Booking Platform Travala Witnesses 33% Growth in Revenue

Booking.com-Partnered Travala Now Accepts Tether’s Controversial USDT

NEM Surges Nearly 20% on Crypto-Friendly Travel Firm Partnership Announcement

Ava Labs outlines scaling solution Vryx in plan for Avalanche to reach 100,000 TPS

Coinbase cryptocurrency exchange recently filed for regulatory approval to offer future products related to several altcoins, including SHIB and AVA. The submission to the Commodity Futures Trading Commission (CFTC) includes proposals for derivatives tied to DOT, SHB, XLM, AVA, and LNK, with trading potentially commencing as early as July 15. This move aligns with Coinbase’s strategy to enhance its derivatives market and cater to a broader investor base, adhering strictly to U.S. regulatory standards.

Coinbase Files for Futures on SHIB, AVA The introduction of futures contracts for altcoins such as SHIB and AVA marks a significant expansion in Coinbase’s product offerings. Upon approval, these products will provide traders and institutional investors with new mechanisms to manage risk, speculate on price movements, and engage more fully in the cryptocurrency economy.

This expansion aims to diversify Coinbase’s portfolio and improve its users’ trading experience by requiring less capital upfront. The company’s approach underlines its commitment to increasing accessibility to the crypto economy while maintaining compliance with stringent regulatory frameworks.

Coinbase has proactively forged strategic partnerships to broaden its service capabilities and enhance on-chain adoption. A notable collaboration with payment processor Stripe is set to expedite transactions and integrate new systems that support faster and more affordable services.

This partnership focuses on integrating USDC on Stripe’s Base platform, facilitating quicker transactions across over 150 countries. Additionally, this collaboration will streamline the process for U.S. customers converting fiat to crypto, integrating convenient payment methods such as Apple Pay and credit cards directly into Coinbase’s Wallet service.

Also Read: 21Shares Submits Application For Solana ETF

AVA Leads as Coinbase Proposes New Futures Seeking CFTC approval for these new futures listings is a calculated step by Coinbase to attract more institutional investors by ensuring a regulated trading environment. This regulatory adherence is crucial for building trust and credibility among a broader range of investors, particularly those cautious about the volatile nature of cryptocurrencies.

At the time of reporting, AVA had the largest market capitalization among the proposed altcoins, at $11.1 billion, and its trading price had slightly increased. In contrast, SHIB, despite its lower price point, remains a popular choice among investors, reflecting the diverse interest in the crypto market.

Also Read: SEC Sues ConsenSys For Conducting Securities Via MetaMask

The derivatives arm of crypto exchange Coinbase has just submitted to the Commodity Futures Trading Commission (CFTC) documents to self-certify the listing of new futures products tied to five popular crypto assets.

According to the filings, Coinbase Derivatives is launching futures contracts for Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHB), which will all be offered for trading on or after July 15th.

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The documents say that Coinbase has spoken with futures commission merchants (FCMs) and market participants who support the decision to launch the contracts. 

“The Exchange is not aware of any substantive opposing views to the Contract. The Exchange certifies that the Contract and related rules certified herein comply with the Commodity Exchange Act and the rules and regulations promulgated thereunder.”

In a statement, Coinbase Derivatives says it will be the first futures exchange in the US to introduce CFTC-regulated margined futures contracts for AVA, LINK, DOT, XLM and SHB. 

“With the addition of AVA, LNK, DOT, XLM, and SHB, our participants and their clients gain more access points to manage risk, speculate on price movements, and participate in the crypto economy with reduced upfront capital requirements.”

Coinbase Derivatives also recently launched commodities futures contracts for oil and gold after noticing increased demand for retail-focused products on accessible and regulated exchanges. The new futures contracts are sized at 10 barrels of oil and one troy ounce of gold. 

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Users may now take advantage of zero-fee transactions when booking travel by using the Solana network integration. Additionally, user account wallets now support SOL, according to Travala.com. Crypto-native travel platform Travala.com, has said that it has extensively integrated the Solana network across the platform and will provide SOL travel rewards to users of its loyalty program. Following an AVA community vote, the integration will also see the deployment of AVA—the token used to access the travel reward program on Travala.com in conjunction with the AVA Foundation—deployed on Solana, making it the third network after Ethereum and BNB Chain where the AVA token may be accessible.

Travel bookings utilizing assets on the Solana network, such as SOL itself and USDT, USDC, and more, are now possible for Solana users thanks to Travala.com’s decision to offer support for the fourth-largest blockchain in the world by market capitalization.

Travelers will soon be able to use the AVA Smart Program, the travel loyalty program accessible on Travala.com, to get up to 10% of every booking back in SOL rewards as part of the extensive integration. As of right now, loyalty members may choose from a variety of travel reward alternatives based on their tier, including Bitcoin, AVA, and Travala.com Travel Credits. SOL will only be the third reward token available inside the loyalty program.

Additionally, user account wallets now support SOL, according to Travala.com. Less than ten cryptocurrencies are supported natively by the account wallet, despite the fact that Travala.com supports over 100 cryptocurrencies. Users may now take advantage of zero-fee transactions when booking travel by using the Solana network integration to make deposits and withdrawals of SOL, USDT, and USDC into their Travala.com account.

Juan Otero, CEO of Travala.com stated:

“The Solana network has become one of the most-used blockchains due to its cost effectiveness and scalability. Not only is the amount of activity within the Solana ecosystem incredible, so is the creativity. As innovators at Travala.com, the technologies that can be harnessed on the Solana network open significant avenues to build the next phase of travel.”

Beyond extending support for the Solana network and the soon-to-be SOL travel rewards, the connection goes beyond that. Travala.com has pledged to embrace the Solana ecosystem and will develop products on the high throughput network to capitalize on Solana’s cheap transaction costs and scalability. Going forward, Travala.com’s development strategy will be centered on Solana, with the aim of developing products that increase the practical applications of the Solana ecosystem.

The recent decision by Skyscanner to integrate Travala.com, which makes its inventory of more than 2,200,000 hotels completely discoverable on Skyscanner’s platforms, is followed by Travala.com’s integration with Solana. With this integration, Travala.com became the first crypto-native travel platform to be included to Skyscanner, a website that receives 110 million monthly visitors and users complete 80 billion searches daily.

Travala.com, which was established in 2017, is the top crypto-native travel booking platform, including over 2,200,000+ properties across 230 countries, over 400,000 activities, and over 600 airlines worldwide. As an advocate for the use of cryptocurrencies, Travala.com accepts more than 100 popular cryptocurrencies in addition to conventional payment options. For qualifying reservations booked on Travala.com, Smart members may take advantage of extra savings and loyalty benefits in addition to the website’s amazing pricing via its Best Price Guarantee. Go to www.travala.com to learn more about Travala.com.

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.

Mark Your Calendars for October 9th: The Official Solidus Ai Tech AI Marketplace Launch

Binance Margin will phase out several BTC margin trading pairs, including Band Protocol, Gitcoin, Highstreet, Perpetual Protocol, STP, and AVA. This affects both cross and isolated-margin trading options, reducing available pairs for users.

The exchange has cautioned users to close positions and transfer affected assets from Margin Wallets to Spot Wallets to avoid potential losses. However, despite the delisting news, coins like Highstreet and Perpetual Protocol have surged by 6% to 12% in price, while AVA, Gitcoin, BAND, and STP recorded modest gains of 1% to 2%. This mixed market response highlights varying investor sentiment across the affected assets.

Binance To Delist These Tokens On December 3, Binance informed users about upcoming changes to its margin trading offerings. Several BTC trading pairs, including Band Protocol, Gitcoin, and Highstreet, will no longer be available for cross or isolated-margin trading.

According to the announcement, BAND/BTC and GTC/BTC cross-margin pairs, along with isolated margin pairs like AVA/BTC, HIGH/BTC, PERP/BTC, and STPT/BTC, will be removed. The delisting process begins on December 4, 2024, with the suspension of isolated margin borrowing. Full removal, including automatic closure of positions and cancellation of pending orders, will occur on December 11, 2024, at 06:00 UTC.

Binance, one of the top crypto exchanges, advises users to act proactively by closing positions and transferring funds to Spot Wallets ahead of these deadlines. While these pairs are being phased out, the underlying assets will still be tradable on other available pairs within the platform. These changes aim to streamline Binance’s offerings and better align with market demands.

Price Movements Of The Crypto Amid Delisting November saw a bullish trend in the crypto market, with approximately $1 trillion added in just one month. This surge in market momentum has positively impacted several of the affected assets, despite Binance’s delisting announcement.

Band Protocol (BAND) price traded at $1.90, up 4% in the last 24 hours and 22% over the past week. GTC price surged 40% in the past week, reaching $1.20, and has gained 100% over the last month. PERP rose 7% to $1.03, marking a 20% increase in just one week.

Highstreet (HIGH) price also saw strong performance, up 12% to $2.04. Meanwhile, STPT price exchanged hands at $0.05, a 40% hike over the past month. AVA price was up 8%, priced at $0.72, reflecting a positive short-term outlook despite the upcoming delisting.

Travala Expands Its Crypto Payments Options By Adding NEM's XEM Token