💰Bpifrance injects 27 million in crypto - France goes on the offensive!
Welcome to the Daily Tribune of Saturday, March 29, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today is Saturday, March 29, 2025, and like every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Rainy 🌧️
24h crypto recap! ⏱
The French Public Investment Bank injects 27 million $ into crypto
Bpifrance announced an investment of 25 million euros to support blockchain projects with a "strong French footprint". This initiative aims to strengthen France's position on the international crypto stage, with a focus on decentralized finance (DeFi), staking, tokenization, and artificial intelligence.
Grayscale's Avalanche ETF on the SEC's table
Grayscale has filed an application to list its Avalanche ETF (AVAX) with the SEC via Nasdaq. This application is part of the strategy to expand the crypto ETF offering in the United States, as Grayscale continues to diversify its fixed capital funds into exchange-traded products. Avalanche is attracting more and more institutional investors due to its dynamic ecosystem.
The BRICS bet on gold is paying off
The BRICS have strengthened their gold reserves with over 4,800 tons in 2024, anticipating a trade war with the United States. This strategy proves to be profitable as the gold price reaches a record of 3,035 $ per ounce after the announcement of tariffs by Donald Trump. The BRICS are consolidating their dedollarization strategy by developing a financial system independent of the dollar.
Bitcoin drops 3% after the new PCE data
Bitcoin fell 3% following the release of U.S. PCE data, showing underlying inflation higher than expected. This correction brings BTC below 84,000 $, a key psychological support. Analysts are divided on the market's future; while some anticipate a quick rebound, others fear a plunge towards 78,000 $.
The crypto of the day: Gala (GALA)
Gala is a blockchain gaming platform aimed at revolutionizing the video game industry by giving players total control over their in-game assets. Founded in 2019 by Eric Schiermeyer, co-founder of Zynga, Gala Games is developing a decentralized ecosystem where players can own, buy, and sell digital items in the form of non-fungible tokens (NFTs).
The native token of the Gala ecosystem, GALA, serves as a means of exchange within the platform. It is used to purchase in-game items, NFTs, and to reward node operators who support the network. GALA holders can also participate in the platform's governance, thus influencing decisions regarding the future development of the ecosystem.
Recent performances:
Current price: 0.01586 $ USD
24-hour change: -5.81 %
Market capitalization: approximately 693.68 million dollars
Rank on CoinMarketCap: #81
XRP facing a 40% drop threat: Analysts sound the alarm
The crypto market is going through a period of great uncertainty, and XRP appears particularly exposed. Experts fear a 40% drop in XRP's price, with a possible return to 1.07 $, if critical support levels do not hold. This forecast is even more concerning as unfavorable macroeconomic conditions add to the alarming technical signals.
Reasons for a possible brutal drop
1. A worrying technical setup
Since its late 2024 rally, XRP has shown a descending triangle formation on its weekly chart, often interpreted as a sign of a bearish continuation. Veteran trader Peter Brandt has also identified a head and shoulders pattern on the daily chart, potentially signaling a drop to 1.07 $ if the key support at 1.32 $ gives way. The low buying volume leaves little hope for a quick trend reversal.
2. An unfavorable macroeconomic context
Economic tensions are intensifying with recent decisions by Donald Trump, notably the imposition of a 25% tariff on automotive imports. This decision, perceived as inflationary, could add 1.2 percentage points to inflation, further complicating any potential monetary easing by the Fed. The probability of rate cuts has fallen to 55.7%, down from 67.3% the previous week, reducing appetite for risky assets like cryptocurrencies.
Possible scenarios for the coming weeks
Bearish scenario: If the price breaks the support at 1.32 $, a drop to 1.07 $ is conceivable, representing a 40% decline. Selling pressure could intensify with the weakness of buying volumes.
Bullish scenario: A rebound on the current support could lead to a recovery towards 2.55 $, but this would require a significant resurgence of interest and a more favorable economic context.
Global economic impact: The Fed's decision to maintain or not maintain high rates will directly influence the dynamics of cryptocurrencies. If rates remain unchanged or increase, pressure on XRP and other risky assets could increase.
