Fantom (FTM) Price Rebounds Ahead of US Inflation Data

• Fantom (FTM) price rose modestly ahead of the upcoming US inflation data.
• The main catalyst for FTM will be the upcoming American consumer inflation numbers scheduled for Tuesday.
• The developers are also working on a stablecoin known as fUSD that will power its ecosystem.

Fantom (FTM) Price Rebounding Ahead of US Inflation Data

The price of Fantom (FTM) has been slowly rebounding in anticipation of the upcoming consumer inflation data from the United States. This news is an important factor that could influence the Federal Reserve’s monetary policy, which in turn would affect other assets such as stocks and commodities. Additionally, FTM is being buoyed by news of an upcoming stablecoin launch known as fUSD, which is expected to power its ecosystem.

US Consumer Inflation Data

The consumer price index (CPI) for January 2021 is expected to have declined from 6.5% in December to 6.2%. Core inflation, which excludes volatile food and energy prices, should have dropped from 5.7% in December to 5.6%. If these estimates come true, then it will signify seven consecutive months of deflationary pressure in the country and could lead to dovish Fed policy going into 2022.

fUSD Stablecoin Launch

Developers are currently working on rebuilding the network after some issues were encountered earlier this year and one of their projects involves launching a stablecoin named fUSD that would power its ecosystem. This could potentially provide more stability and liquidity in the market and bolster FTM’s price even further if successful.

Impact on Other Assets

High-than-expected inflation numbers coming out this week may lead to a more combative stance by the Fed while lower-than-expected figures can cause it to take a more dovish approach towards preventing a hard landing due to economic recession signals coming from an inverted yield curve not seen since the 1980s.

Conclusion

Fantom (FTM) has been slowly rebounding ahead of Tuesday’s U .S consumer inflation data release and with news about an upcoming fUSD stablecoin launch taking place later this year, investors will be closely watching how these developments play out over time before making any long-term decisions about investing in FTM or any other asset class for that matter.