- Dr. Julian Hosp pointed out 7 things to look out for in the coming week.
- Also, CakeDefi will be launching its own staking coin this week for Cake’s users.
- CakeDefi provides customers access to decentralized financial services.
Dr. Julian Hosp, CEO of CakeDefi, a leading decentralized finance service provider in Southeast Asia, shared his list of 7 things to watch out for this week in his weekly newsletter. He also took to Twitter to share the same with his followers.
“Last week was my first week after my only vacation last year. At the same time, the European team meeting and a big crypto event took place. I know I’m behind on some things. I’ll catch up on those this week,” he said.
According to Hosp, considering the price performance last week, investors shouldn’t fall prey to fake pumps. January has started on a positive note for all the cryptocurrencies, with Bitcoin currently trading at $21,141.26 as per CoinGecko. Traders are expecting interest rates to be lowered and ‘whales’ making the purchases.
While the increase in Bitcoin price has been a reason for optimism in the market, it can be a fake pump leading to people making hasty investment decisions, according to Hosp. He has insisted traders be cautious while investing: “I hope it (Bitcoin price) is sustainable, but I am just unsure. Nothing would help the crypto industry more than Bitcoin prices above 30,000. I would be really happy – but I just don’t believe it.”
Among other points, he highlighted US CPI numbers at 6.5%. CPI, or consumer price index, measures the monthly change in price being paid by US consumers. Another point added by Hosp is about Grayscale. He highlighted that Grayscale is not collapsing this week or in the future: “The DCG/Grayscale/Gemini thing will continue to be on our radar in 2023”.
Hosp adds that he has been expecting an invitation from his friend to the World Economic Forum, Davos. However, he stated he decided against attending the conference as there could be negative sentiments toward crypto because of the fall of FTX.
Furthermore, Hosp tried to emphasize how crypto never takes a break and has been trading 24/7 despite it being a US Bank holiday. Lastly, through his newsletter, he made an important announcement to all Cake users about CakeDefi launching its staking coin this week. Additionally, Hosp updated about Cake’s web app, being shut down for three hours for updation at the backend on 21st January, at 6 am SGT.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
