Best Crypto to Buy Now 7 August – XDC Network, Kaspa, Algorand
PayPal, the global payments giant, continued its journey into the cryptocurrency space with the launch of its own stablecoin today, PayPal USD (PYUSD).
This development marks a significant stride since PayPal's initial foray into the cryptocurrency industry in late 2020.
Given this development, what are the best cryptos to buy now?
Despite this significant news, Bitcoin's price has remained stagnant. Today, it hit an intraday low of $28,669 and is currently trading at $29,074, trading about break even so far in the past 24 hours.
Since breaking down from the Fib 0.382 level of $29,143 last Friday, this level has persisted as resistance over the weekend as well as today.
Concurrently, Bitcoin is experiencing a notable reduction in volatility, according to blockchain analytics firm, Glassnode.
The firm notes a significant drop in trading activity in the futures market and a decline in implied volatility in the options market.
Whether these trends indicate a transformation in Bitcoin's volatility pattern remains unclear.
With intriguing shifts in the cryptocurrency market dynamics, the focus shifts towards potential crypto market outliers.
XDC Network, Wall Street Memes, Kaspa, XRP20, and Algorand shine as some of the best cryptos to buy now, supported by solid fundamentals and promising technical analysis.
Despite yesterday's encouraging rally that saw XDC bounce off the Fib 0.5 level at $0.06182, alongside the 20-day EMA of $0.06104, today’s trading session has painted a different picture. XDC is currently trading at $0.06953 down by a significant 7.97% so far today.
XDC's current price sits uncomfortably close to the immediate support level at the Fib 0.618 level of $0.06952.
The proximity of the price to this level raises concerns
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