AVA Surges by Over 112% on Bithumb Listing
Travala's native token AVA surged by more than 112% after its listing on Bithumb's Korean won market, despite a brief pullback to trade around $0.26 to $0.27.
The rapid price increase was fueled by a surge in trading volume, which reached $136.47 million over the past 24 hours, more than six times AVA's market capitalization of $20.03 million.
Bithumb's Korean won market saw significant buying activity, with its AVA/KRW trading volume exceeding Binance's AVA/USDT volume, contributing to the global price increase from around $0.15 to above $0.30.
Liquidations in futures positions also added to the rally, with open interest in AVA futures on Binance jumping 454% to $6.9 million and short liquidations totaling $784,000, far exceeding long liquidations of $433,000.