Elrond (ERD) Price Surges 35% to Mark Yearly High, Following Partnership with Travala and TravelbyBit

The positive price performance of Elrond (ERD) in 2020 continues as the altcoin project announced new partnerships with major players in the global travel industry.

Flight Payments with ERD on 600 Airlines

Elrond Network CEO Beniamin Mincu announced the news of the project’s partnership with Travala and TravelbyBit – two prominent online travel agencies, via a Medium blog post on Thursday (June 18, 2020). According to the statement, both companies are integrating Elrond on their platforms, allowing users to purchase flight tickets and hotel accommodation using ERD.

The partnership with Travala and TravelbyBit will potentially give customers exposure to 600 airlines and over two million hotels worldwide. Commenting on the development, Mincu remarked:

“The recent changes in travel habits put Travala.com & TravelbyBit in a very special position to offer users more convenient payment alternatives. We are very excited about this integration, which offers a great opportunity for the Elrond ecosystem, adding significant utility for the ERD currency.”

Both Travala and TravelbyBit have a history of crypto adoption, with the latter even being backed by cryptocurrency exchange giant Binance. Indeed, the Elrond mainnet launch will see both ERD and BUSD accepted as payment means on both travel agency platforms. BUSD is the first stablecoin to see integration in the Elrond ecosystem.

As part of the collaboration, Elrond is inviting users to spread the word about the adoption of ERD on both travel agencies to stand a chance of winning up to $5,000 in Elrond tokens. The inclusion of ERD payments for airline tickets and hotels is also coming at a time when countries are moving towards lifting COVID-19 travel restrictions amid the onset of the summer vacation.

Elrond Price Sets New 2020 High

Following the announcement, the ERD price experienced a 35% spike, setting a new 2020 high of $0.004840. Indeed, the price is up by almost 150% year-to-date. Since Black Thursday (March 12, 2020), when the crypto market lost half of its value, the token has staged a major recovery, increasing almost five-fold within the period.

erd_usd — ERD/USD. Source: TradingView/Binance

Today’s price surge is the second to occur amid a partnership announcement in June 2020 alone. Earlier in the month, CryptoPotato reported that the ERD price jumped 25% after word of its $40,000 incentivized test net hit the crypto news circuit. The incentivized testnet will provide the final stress testing before the rollout of the full Elrond mainnet.