Decentral Block Post

MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol.

At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an error: “Accessing this website via VPN is not allowed.”

Cointelegraph tested accessing the site with Australian and Singapore-based VPNs and was met with the warning. Source: Spark Protocol

The measure appears to be linked to Maker’s attempt to restrict United States users from accessing the crypto lending platform — discussed in Spark Protocol’s terms of service updated May 9 — which also warns against the use of VPNs to circumvent the block. 

Spark Protocol’s terms of service prohibits U.S. users from using a VPN to conceal their U.S. residency. Source: Spark Protocol

In an Aug. 6 tweet, DeFi analyst Chris Blec was among those saying he was “disgusted” with the decision, highlighting it effectively acts as a blanket ban on VPNs across the globe, not just in the U.S.

“It's one thing to block US residents,” Blec said, adding that “it's a whole other thing to block anyone in the entire world who is using a VPN for privacy,” said Blec, adding it is an “actual war on privacy.”

Bitcoin (BTC) continued its boring price action over the weekend, indicating that the bulls and the bears are not waging large bets as they are uncertain about the next directional move. Nevertheless, traders should continue to keep a close watch because a period of consolidation is usually followed by an increase in volatility. 

Although it is difficult to predict the direction of the breakout with certainty, some analysts point to the Bitcoin whales increasing their exposure as a positive sign. On-chain analyst Cole Garner believes the bull move could continue till September when the summer seasonality kicks in and the shakeout happens.

Crypto market data daily view. Source: Coin360

Bitcoin rose sharply in the first few months of the year but the major altcoins struggled to keep pace. That could change as the current consolidation in the largest cryptocurrency is giving an opportunity for select altcoins to play catch up.

What are the top-5 cryptocurrencies that are looking positive in the near term? Let’s study their charts to determine the resistance levels to keep an eye on.

Bitcoin price analysis

Bitcoin formed an inside-day candlestick pattern on Aug. 5, indicating indecision among the bulls and the bears. The price is getting squeezed between the 20-day exponential moving average ($29,430) and the horizontal support at $28,861.