POSCO Partnership Bolsters Avalanche Amid Global Trade Blockchain Push

South Korean steel producer POSCO has partnered with blockchain network Avalanche to move global trade transactions on-chain. This significant development has given AVAX a boost, as the token holds above key support near $7.25 after the announcement.

The partnership will see POSCO use Avalanche's platform for digital trade solutions, which it believes will 'bring global trade on-chain'. The company supplies steel and related products to major clients including Hyundai, Samsung, Toyota, General Motors, Ford, and LG.

At press time, AVAX was trading at $7.39, down 2.04% over the past 24 hours following a late-August rally. Technical indicators remain moderately positive, with open interest in AVAX derivatives surpassing $300 million.

Analysts are watching two key levels: the $7.80 resistance and the $7.254 support. A clear breakout above $7.80 could reinforce the bullish structure and open the door to further gains, while a confirmed drop below $7.254 would weaken the short-term outlook.