Hendrik
• Fantom (FTM) price rose modestly ahead of the upcoming US inflation data.
• Economists expect the data to show that US inflation inched downwards in January as goods prices retreated.
• Developers are 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 of $0.4138. This price is about 30% below its highest point in 2023.
US 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, 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. Core inflation, which is an important number that excludes the 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, by impacting Federal Reserve policy decisions going forward.
Yield Curve Inversion
The yield curve has inverted to its lowest point since 1980s, signaling possible recession ahead; making it more likely that Federal Reserve policymaker decisions could be swayed by softer than expected consumer inflation numbers next week if they want to prevent hard landing scenarios occuring within USA economy over coming period of time..
Rebuilding Fantom Network
In addition, Fantom price is reacting positively towards news developers are working on rebuilding network after earlier challenges were encountered; with one project being development of stablecoin called fUSD which shall power ecosystems connected with it once launched at later date..
Fantom Price Prediction
With all these factors combined, analysts believe FTM could remain range bound or potentially move higher depending upon outcome of consumerinflation data released on Tuesday; any positive surprises could provide further boost needed forprice recovery..
