• Fantom (FTM) price rose modestly on Tuesday ahead of the upcoming US inflation data.
• Economists expect the CPI to decline from 6.5% in December to 6.2% in January and core inflation to drop from 5.7% in December to 5.6%.
• Developers are also working on a stablecoin known as fUSD that will power its ecosystem.
Fantom (FTM) Price Rebound
Fantom (FTM) price made a small comeback on Tuesday as investors waited for the upcoming American consumer inflation data. It rose to a high of $0.4780, which was a few points above this week’s low $0.4138. This price is about 30% below its highest point in 2023.
US Consumer Inflation Data Expectations
The main catalyst for FTM will be the upcoming American consumer inflation numbers scheduled for Tuesday. Economists expect the data to show that the country’s inflation inched downwards in January as goods prices retreated. According to Reuters, the median estimate among economists is that the headline consumer price index (CPI) declined from 6.5% in December to 6.2% in January and core inflation, which is an important number that excludes volatile food and energy prices, is expected to have dropped from 5.7% in December to 5.6%. These inflation numbers will have an important role for Fantom and other cryptocurrency prices like Bitcoin and Ethereum as well as other financial assets like stocks and commodities due their effects on the Federal Reserve’s policies based on their outcome whether they are higher or lower than expected..
fUSD Stablecoin Launch
In addition, traders are also waiting for the upcoming fUSD stablecoin launch which will power its ecosystem after developers rebuild it following some challenges recently reported by CryptoAfrica here . The news was recently confirmed by Andre Cronje, an influential figure in the ecosystem who has been helping with this rebuilding process since then..
Yield Curve Inversion
Meanwhile, yield curve has inverted to its lowest levels since 1980s signaling recession could be coming soon making it crucial for Federal Reserve to act accordingly with their monetary policy depending on how soft or hard US consumer prices move when released on Tuesday..
Fantom Price Prediction
It remains unclear what direction FTM price may take when US consumer prices are released but investors would be hoping it follows suit if US consumer prices show signs of softening given current market conditions where recession signals could be looming large..