The AVA token, tied to Binance-backed travel platform Travala, surged as much as 112% intraday, climbing from $0.155 to a high of $0.329. The trigger was Bithumb launching a new AVA/KRW trading pair, one of South Korea’s largest exchanges, generating nearly $40 million in volume on that pair alone. Open interest on Binance futures jumped 454% to $6.9 million, while short liquidations reached $784,000 versus $433,000 for longs, indicating the move was amplified by forced short covering. The AVA Foundation had repurchased nearly 370,000 tokens on September 15, locking more than 13% of circulating supply. The token now trades around $0.27, still up 72% over 24 hours.
Source: Read the original article
