Cardano
Cardano Partners with Pacific Meta in Japan While ADA Price Declines
The Cardano Foundation has appointed Pacific Meta to support enterprise adoption in Japan amid short-term downward pressure on ADA.
The Cardano Foundation announced a partnership with Pacific Meta, designating the firm as an Enterprise Integration Partner in Japan. Under the agreement, the Foundation will supply infrastructure and technical support, while Pacific Meta handles local enterprise relationships, go-to-market strategies, and systems integration. Additionally, Cardano founder Charles Hoskinson recently stated that the privacy-focused network Midnight could surpass Zcash, though he did not specify the metrics for that comparison.
Despite the expansion news, ADA fell 4% to $0.239 in a single hourly candle on October 2, reversing earlier intraday gains after reaching a high of $0.26. The move erased most of the asset's daily advance under increasing selling pressure.
Technical and derivatives indicators reflected the shift in sentiment. The Relative Strength Index fell to 30.55, while the Chaikin Money Flow declined to -0.10, signaling capital outflows. Open interest dropped to approximately $258.6 million as traders closed positions, and funding rates slipped to -0.0103, showing that short sellers were paying to maintain their positions.
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