Polkadot Passes Proposal to Make DOTs ‘More Ergonomic’

The first token-based vote on the Polkadot network passed in favor of multiplying the DOT supply 100-fold. As announced on Monday, a proposal to give DOTs a “more ergonomic” value was accepted by the community with 86% of the votes cast in favor. Only 4% of the votes were cast against any redenomination, while 10x and 1000x split variants gathered 20% and 24% respectively as tokenholders expressed multiple preferences. The vote lasted two weeks, with 2.86 million out of a total 5.4 million tokens joining in the vote. Parity Technologies…

Two Bearish Signals, One Indicator: Bulls Beware of Bitcoin Push Beyond $10,000

After trading sideways for several months, Bitcoin may be ready to not only break out of the trading range but also break out from its multi-year triangle pattern. However, bulls must beware of the latest push beyond $10,000 triggering not one, but two sell setups on the same indicator on BTCUSD daily price charts. Bitcoin Possibly Preparing Breakout From Bear Market Into New Uptrend The hype surrounding Bitcoin’s halving took the asset to above $9,000 in late April just weeks after Black Thursday cut the crypto asset down to $3,800.…

Twitch Offers 10% Discount When Users Pay with Cryptocurrencies

To support payments in Bitcoin, Twitch is using BitPay’s digital currency processing network. The leading live streaming platform for gamers Twitch has announced that subscribers who pay with cryptocurrencies will be granted 10% reductions. Twitch is a foremost live streaming platform for gamers. It was introduced in 2011 as a subsidiary of Amazon.com Inc (NASDAQ: AMZN). Its electronic service allows gamers to stream live games. Aside from this, it enables the streaming of electronic sports competitions, musical communication, creative text, and recently added real lifestreaming. Twitch has a regular viewer…

Blockchain Bites: Ethereum’s Lifestyle Brand, Twitch’s Crypto Discounts and MakerDAO’s $1B Milestone

Twitch is offering discounts to subscribers paying in crypto, a federal court ruled bitcoin is money and R3 Corda’s blockchain is a big thing in Italy’s banking system. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  It’s SettledR3’s Corda blockchain is used by 55 (~85%) Italian banks for interbank reconciliation, speeding up the process of double-checking transaction logs. The country’s Interbank Agreement was updated in May 2019 to include data…

LVMH Reports Disappointing First Half 2020 Results

LVMH CEO and Chairman Bernard Arnault says that the company showed exceptional resilience to the serious crisis the world suffered in the first half of 2020. After the market closed on the 27th of July, LVMH Moët Hennessy Louis Vuitton revealed its financial results for the first half of 2020. The persisting coronavirus pandemic affected LVMH, causing losses in the year’s first half results. The French multinational corporation reported revenue of 18.4 billion euros, a 27% decline over the first half of 2019. LVMH First Half Earnings Results At the…

Reasons for Caution as Bitcoin Hits $10,440

The price of Bitcoin hit $10,463 on BitMEX, slightly below the previous peak in June. But two indicators are signaling a BTC cool-off: TD9 and exchange inflows. The price of Bitcoin tests a crucial resistance level. Source: Raoul Pal The TD9 is a trend-reversal indicator that is a part of the TD sequential system. It typically indicates if a rally or a correction is over-extended. Similarly, exchange inflows, especially among whales, often suggest that the ongoing rally could be overcrowded. Is the ongoing Bitcoin rally over-extended? A TD9 sell signal…

Bitcoin Just Posted an Ultra Bullish Technical Formation Not Seen Since 2017

Bitcoin’s intense rally seen yesterday evening allowed it to surmount multiple heavy resistance levels that were previously suppressing its price action. The cryptocurrency has also bolstered its technical outlook, with multiple factors now working firmly in the favor of BTC’s bulls. One such technical factor would be a bull cross seen while looking at its Ichimoku Cloud, which just formed for the first time seen since the bull market in 2017. Technical factors like this have led to a sense of euphoria amongst investors, but it is important to keep…

How Digital Asset Exchanges Can Meet Institutional Investors’ Need for Speed

With low barriers for entering, competition for digital asset exchanges is intense, with an estimated more than 10,000 exchanges now operating worldwide. This competition reduces margins for all of them and also lowers deposit and withdrawal thresholds. Add in a confusing patchwork of global regulations, and profitability challenges for digital asset exchanges loom large. Digital asset exchanges must overcome these obstacles to attract institutional traders who will generate the sector’s next growth wave. These high-powered traders seek crypto exchanges that can give them the liquidity they need, as well as…

Silvergate’s Bitcoin-Backed Lending Product Grew 80% in the Last Quarter

Silvergate Bank continued to add a steady drip of crypto customers in the second quarter of 2020 but its issuance of bitcoin-collateralized loans grew by $10 million, outperforming the growth of its real estate loan book by 10x.  According to its latest earnings report, released Monday morning, the bank’s traditional loan portfolio – a real estate–heavy loan book of about $1.1 billion – only increased by $1 million from the first quarter. Bitcoin-collateralized loans through the bank’s SEN Leverage product surged by $10 million in the first quarter. The uptick…

MakerDAO DeFi Most Valued Protocol as Ethereum Price Jumps 40%

After being defeated by Compound last month, MakerDAO is back as a top DeFi protocol owing to the recent Ethereum price surge. MakerDAO is presently the DeFi platform with the highest amount of locked value, after a recent Ethereum price surge. According to a Cryptobriefing report, MakerDAO has hit one billion dollars in locked value due to a 40% Ethereum increase. The rise is coming after June, when MakerDAO fell from being the most valuable protocol, for the first time. Ethereum’s surge has now pushed MakerDAO back to its top spot among…