• Fantom (FTM) price rose modestly on Tuesday ahead of the US consumer inflation data.
• Economists expect the headline consumer price index to decline from 6.5% in December to 6.2% in January.
• The developers are also working to rebuild the network and launch a stablecoin known as fUSD that will power its ecosystem.
Fantom (FTM) Price Rebounding Ahead of US Inflation Data
The Fantom (FTM) price made a small comeback on Tuesday as investors awaited 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
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. This will be the seventh straight months that inflation has moved downwards while core inflation, excluding volatile food and energy prices, is expected to have dropped from 5.7% in December to 5.6%.
Impact on Federal Reserve
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; their impact is that they will influence Federal Reserve policy decisions going forward – if higher-than-expected inflation numbers are published following strong US jobs data last week, then it could mean that Fed moves towards a more combative stance; however, if lower-than-expected softens, there could be greater likelihood of dovishness by Fed with an aim of preventing economic hard landing due to inverted yield curve signaling recessionary conditions setting in since 1980s levels.
Rebuild Network & Launch Stablecoin fUSD
Meanwhile, FTM price is reacting positively news of developers rebuilding network after recent challenges faced by the project; one such development includes launch of stablecoin known as fUSD which will power its ecosystem – news recently confirmed by Andre Cronje influential figure within Fantom ecosystem.
Fantom Price Prediction