The Cardano Foundation has announced a new partnership with Pacific Meta to serve as an Enterprise Integration Partner in Japan. The collaboration aims to assist Japanese companies in identifying business problems that Cardano can solve and in building corresponding blockchain solutions.
Under the agreement, responsibilities are split between the two entities. The Cardano Foundation will provide infrastructure and technical support, while Pacific Meta will manage local operations, including understanding Japanese enterprise workflows, assisting with go-to-market strategies, and conducting hands-on systems integration.
In related developments, Cardano founder Charles Hoskinson recently stated his expectation that the privacy-focused network Midnight will become larger than Zcash. Hoskinson did not specify whether his metric for "bigger" referred to price, market capitalization, users, or network activity.
Despite the expansion news, ADA's market performance experienced a downturn. The cryptocurrency's price dropped 4%, falling to $0.239 in a single hourly candle on October 2 after earlier testing $0.26 before sellers pushed it back.
Market indicators reflected bearish momentum following the drop. The Relative Strength Index fell to 30.55, placing it on the edge of being oversold and well below its signal line of 51.59. Additionally, the Chaikin Money Flow dropped to -0.10, indicating that more capital was flowing out of ADA than entering it.
Derivatives data also showed declining engagement, with Open Interest falling to approximately $258.6 million as traders closed positions. The Funding Rate stood at -0.0103, reflecting that short sellers were paying to maintain their bets against the token.
