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AVAX Hyundai Card expands Avalanche network applications, AVAX sticks to US$10 support
As South Korea's Hyundai Card decided to expand its blockchain plan on the Avalanche network, Avalanche's AVAX tokens have once again attracted market attention. This move marks another important step in enterprise-level adoption of the project.
Hyundai Card deepens blockchain integration
As South Korea's leading credit card company, Hyundai Card initially used the Avalanche network to facilitate internal international transactions. Now, the company has announced plans to expand the use of the network to more complex operational functions, including compliance supervision, reconciliation processes and transaction settlement that occurs within and outside normal bank hours.
Hyundai Card executive Heejun Nam pointed out that the company prioritized functions such as "internal compliance control, reconciliation, and transactions during normal and non-normal banking hours" during the evaluation process. He explained that these operational factors influenced Hyundai Card's decision to choose Avalanche as a blockchain partner.
Nam Xijun further explained that operational needs such as internal compliance management, detailed reconciliations, and transactions beyond normal working hours prompted Hyundai Card to choose Avalanche in its expanded blockchain strategy. The move marks a shift from early pilot testing for Hyundai Cards 'blockchain work to a broader enterprise-level approach. Industry observers believe that the continued participation of large companies like Hyundai Card will help verify the practical utility of blockchain networks beyond experimental trials.
AVAX prices stick to key levels
At the time of report, AVAX was trading at $10.89, a daily decline of 1.93%. Despite the correction, the token remains above the important technical support area established after a strong rebound in late September.
Technical analysis from TradingView shows that AVAX is above the breakout level of $9.45 and the 20-day exponential moving average (EMA) of $10.29. The token is also higher than the 50-day EMA of $9.05, the 100-day EMA of $8.37, and the 200-day EMA of $8.95. Trades above key moving averages are often interpreted as positive signals that underlying market sentiment is improving.
Recent price movements have put the token in a consolidation stage, with support around $10 and resistance between $11.50 and $12.00. A break below the 20th EMA may target the support level of US$9.45; a break through the resistance level may trigger new bullish momentum.
CoinGlass derivatives data shows that the value of open interest has reached about US$640 million, well above August levels. The increase in open interest against the backdrop of high prices suggests that participants continue to enter rather than exit the market. In addition, trading volume also increased during the rebound in September, and overall trading volume remained strong since the beginning of the quarter.
Both long and short positions have been liquidated recently, highlighting the current fierce market environment and neither party has established significant advantages. Institutional engagement is often seen as a long-term driver, suggesting that the Internet is gaining practical applications beyond pure speculation.
Outlook under Enterprise Application Expansion
Modern cards 'evolving blockchain usage suggests that enterprises are increasingly demanding for Avalanche technology, which may have a potential impact on wider adoption in the financial industry. While this latest move may not immediately affect AVAX's needs, it further strengthens blockchain's credibility as part of enterprise infrastructure.
If similar companies adopt similar strategies, Avalanche is expected to consolidate its reputation as a blockchain platform for real-world applications, expanding its influence beyond decentralized finance (DeFi) and speculative trading into a wider range of areas.
For now, market participants will be closely watching how AVAX responds to these fundamental developments, especially given that its technical indicators show strong support above $10. Continued levels of defense and an increase in open interest suggest that despite cautious market sentiment, the overall sentiment remains constructive as projects enter the next stage of corporate adoption.
