•Fantom (FTM) price rose modestly ahead of the upcoming US inflation data. It has also done well as traders wait for the upcoming fUSD stablecoin launch.
•Economists expect the US inflation numbers to show a drop in January from 6.5% to 6.2%. Core inflation is expected to have dropped from 5.7% to 5.6%.
•The impact of these inflation numbers will be on cryptocurrency prices and other financial assets, as well as the Federal Reserve’s actions going forward.
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 Ahead
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 estimates median among economists is that headline consumer price index (CPI) declined from 6.5% in December to 6.2% in January while core inflation which excludes volatile food and energy prices is expected to have dropped from 5.7% in December to 5.6%.
Impact On Financial Assets
These inflation numbers will have an important role for Fantom and other cryptocurrency prices like Bitcoin and Ethereum They will also have an important role for other financial assets like stocks and commodities Their impact is that they will have an impact on the Federal Reserve Higher-than-expected inflation numbers, coming a week after the US published strong jobs numbers, will mean that Fed will be more combative On other hand if softens then there is likelihood that Fed could be dovish preventing hard landing Meanwhile yield curve inverted lowest since 1980s signaling recession could be coming
fUSD Stablecoin Launch
Fantom price is reacting news developers working rebuild network after challenges wrote here One projects developers working stablecoin known fUSD power ecosystem news recently confirmed Andre Cronje influential figure ecosystem
Fantom Price Prediction
It remains unclear what direction Fantom price will take depending on upcoming American consumer inflation data If higher-than-expected then FTM could remain range bound while lower number would likely see it break out upside Nevertheless long-term outlook remains bullish with new products launching near future