• FTM price rose ahead of the upcoming US inflation data on Tuesday.
• Economists expect the consumer price index (CPI) to decline from 6.5% in December to 6.2% in January.
• Developers are working on a stablecoin known as fUSD that will power its ecosystem.
Fantom (FTM) Price Rebound
The Fantom (FTM) price rose modestly on Tuesday, February 14th, ahead of the upcoming US consumer inflation data. The current FTM price is around $0.4780, which is about 30% below its highest point this year and slightly above this week’s low at $0.4138.
US Consumer Inflation Data
Economists predict that the US consumer inflation numbers for January will show a decrease in overall prices compared to December’s numbers, with the median estimate being a drop from 6.5% to 6.2%. Core inflation, which excludes volatile food and energy prices, is expected to fall from 5.7% to 5.6%. The American consumer inflation data will be influential when it comes to other financial assets such as stocks, commodities and cryptocurrencies like Bitcoin and Ethereum due to its impact on Federal Reserve policy decisions moving forward – higher than expected numbers could lead to a more combative Fed approach whereas softer numbers could lead them towards a more dovish stance in order to prevent an economic hard landing given that yield curves have inverted significantly recently signaling recession may be imminent in the near future.
fUSD Stablecoin Launch
Besides reacting positively to US consumer inflation news, Fantom (FTM) has also gained traction due to developments surrounding its upcoming fUSD stablecoin launch; Andre Cronje recently confirmed that developers have begun rebuilding the network for this purpose and their progress can be monitored accordingly on GitHub here . fUSD is expected support Fantom’s ecosystem when it officially launches later this year by providing users with access to reliable and liquid money markets with competitive interest rates in comparison with other cryptocurrency projects such as MakerDAO and Compound Finance who currently dominate the space today .
Future Price Predictions
As experts wait for more developments regarding both FTM’s fUSD launch and US consumer inflation data, traders are divided over whether or not FTM’s recent rebound will continue going forward – some maintain that given its strong fundamentals it has potential upside while others claim that given its current valuation any further rises would only add further risk exposure into their portfolios .
Conclusion
In conclusion then , while there are different opinions among traders regarding Fantom (FTM)’s future price movements , news surrounding upcoming American consumer inflation data combined with progress towards launching its own stablecoin have provided much needed bullish sentiment for investors looking for a short-term gain before making longer term investment decisions .