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Cardano partners with Pacific Meta in Japan as ADA price drops amid short selling pressure

Market News
03 Oct 2026
AMBCrypto
View Source
Bearish
Cardano partners with Pacific Meta in Japan as ADA price drops amid short selling pressure

The Cardano Foundation has partnered with Pacific Meta to integrate Cardano solutions into Japanese enterprises, with the Foundation providing technical support and Pacific Meta handling local market integration. Despite this strategic move, Cardano's ADA price fell to $0.239 on October 2, influenced by increased short selling and negative funding rates, signaling bearish market sentiment. Technical indicators like RSI and Chaikin Money Flow suggest more capital is leaving ADA than entering, though a short-term price rebound remains possible. This partnership aims to expand Cardano's business use cases in Japan, but market challenges persist for ADA's price performance.

Cardano's ADA is trading at Rp4.355 on Pluang, down 4.50% as of Oct 03, 2026 15:21 WIB, with a market cap of Rp161,63 trillion. Despite the new partnership to expand in Japan, selling pressure remains notable with 39% of Pluang orders to sell and a 24-hour volume of Rp12,59 trillion. The typical hold time of 126 days suggests many investors maintain a medium-term outlook amid current price volatility.

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