Nigerian fintech pioneer Paga has partnered with the Sui blockchain to 
integrate cryptocurrency infrastructure into its platform. A Roadmap for 
Digital Finance Nigerian fintech pioneer Paga has entered a partnership with 
Sui blockchain, marking the company’s most significant push into crypto 
infrastructure to date. The collaboration was unveiled on May 7 at Sui Live in 
[…]

Nigerian Fintech Paga Expands Into Tokenized Bonds and Real Estate Through Sui Partnership

Ethereum has lost ground below $2,300 as the market cools after weeks of 
cautious recovery. The price is retreating — but a CryptoQuant report tracking 
Binance derivatives activity has identified a dynamic beneath the surface that 
complicates the bearish reading considerably. Related Reading: Bitcoin Found 
Support Where Recent Buyers Can’t Afford to Lose: Discover the Mechanics The 
data shows that derivatives traders on Binance have been aggressively betting 
against Ethereum throughout the recent rebound — and they are still adding to 
those positions even as the price pulls back. Cumulative net taker volume has 
dropped to approximately -$585 million, its deepest negative reading since 
March 27, when the metric reached around -$340 million. In the weeks between 
those two readings, the short-selling pressure has not only persisted — it has 
intensified. That intensification is happening simultaneously with rising open 
interest on Binance, which has climbed from approximately $2.46 billion to 
$2.9 billion during the first week of May. Rising open interest alongside 
deeply negative taker volume describes a specific market structure: traders 
are not simply reducing long positions. They are actively building new short 
exposure into a market that has been recovering. The significance of that 
setup is counterintuitive. Heavy short positioning during a recovery does not 
straightforwardly confirm the bearish case. It creates the conditions for the 
opposite — a market structure where the shorts themselves become the fuel for 
a move higher if Ethereum proves capable of absorbing the selling pressure 
they are generating. The Shorts Are Paying to Bet Against Ethereum. The Market 
Is Not Giving Them What They Need The CryptoQuant report draws the distinction 
that makes the current setup structurally significant. Taker selling pressure 
at -$585 million is meaningfully stronger than the -$340 million reading from 
March 27, the previous comparable downside reference. The selling is not 
simply persisting. It is deepening. And yet Binance open interest has risen 
from $2.46 billion to $2.9 billion simultaneously, confirming that the 
negative taker flow reflects new short positions being actively built rather 
than existing longs being closed. That combination creates a specific 
fragility. When traders build short exposure aggressively, and the price fails 
to decline in response, the shorts are not being validated — they are becoming 
trapped. Each session that Ethereum absorbs the selling pressure without 
breaking lower adds to the eventual cost of unwinding those positions. The CVD 
reading adds the stabilizing context. Cumulative volume delta has held around 
$4.4 billion throughout this period. Suggesting the underlying spot demand has 
not collapsed despite the derivatives pressure. The funding rate picture 
completes the argument. Ethereum funding on Binance has remained negative 
since early February — months of persistent bearish conviction that has now 
deepened below the levels recorded around April 7, 2025. Traders are paying to 
stay short against an asset that keeps refusing to deliver the decline they 
are positioning for. The report&#8217;s conclusion is precise and honest. The rally 
is being doubted. The doubt is being expressed through real capital committed 
to short positions. And if Ethereum continues absorbing that pressure rather 
than breaking under it, the doubt itself becomes the mechanism for the next 
move higher. Related Reading: XRP’s Biggest Holders Just Stopped Sending 
Tokens to Exchanges: Last Time Was November 2021 Ethereum Consolidates Below 
Resistance As Structure Tightens Ethereum is trading around $2,280 on the 
daily chart, consolidating just below the $2,300–$2,400 resistance band that 
has capped every recovery attempt since the February breakdown. Price action 
shows a clear transition from impulsive selling to controlled compression, 
with higher lows forming steadily from the March bottom near $1,800. The 
recovery has reclaimed the 50-day moving average and is now interacting with 
the 100-day moving average, both of which are flattening after trending lower. 
This flattening reflects a loss of downside momentum rather than confirmed 
bullish expansion. Meanwhile, the 200-day moving average remains above price 
and continues to slope downward, reinforcing the overhead resistance 
structure. Related Reading: Retail Capitulation Hits AAVE, But Smart Money 
Starts Positioning: Here The Post-Crisis Market Structure Volume has declined 
compared to the capitulation phase in February. Indicating that the current 
range is driven more by positioning adjustments than aggressive participation. 
This aligns with a market that is waiting for a catalyst rather than 
committing to direction. Structurally, Ethereum is compressing into a 
tightening range. A decisive break above $2,400 would shift momentum and open 
a move toward higher levels. Failure to break would likely extend 
consolidation, with $2,100–$2,150 acting as the first support zone, followed 
by stronger demand near $2,000. Featured image from ChatGPT, chart from 
TradingView.com

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Nigerian Fintech Paga Expands Into Tokenized Bonds and Real Estate Through Sui Partnership

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