Best Crypto to Buy Now August 22 – Render, Monero, Algorand
One of today's biggest crypto news stories comes from Binance, the world's largest cryptocurrency exchange by trading volume.
On August 22, Binance announced the gradual launch of a new copy trading feature on its futures platform which went live at 6:45 AM UTC.
In light of this development, what are the best cryptos to buy now?
Copy trading allows novice crypto traders to automatically replicate the trades of more experienced users in real time.
This can help new traders bypass the steep learning curve typically associated with crypto trading.
In exchange for following their strategies, veteran traders earn commission rebates and other incentives when their copied orders are executed.
According to Binance's announcement, the copy trading feature will be rolled out in phases, with a full launch planned for mid-September 2023.
Binance is not the first platform to offer built-in copy trading, but the move shows the exchange's commitment to advancing and cultivating the next generation of traders.
As more platforms adopt copy trading, the industry is forecasted to grow substantially.
Render, Wall Street Memes, Monero, Sonik Coin, and Algorand are some of the best cryptos to buy now considering their robust fundamentals and/or positive technical analysis.
After a conspicuous breakdown from the Fib 0.5 level at $1.921 on July 18, RNDR has since shed over 25% of its value.
The broader market's downturn isn't doing it any favors either, adding to the concerns that it could descend further.
The 20-day EMA for RNDR currently stands at $1.566, acting as an immediate resistance, with the cryptocurrency trading below it at $1.369.
This is a bearish sign, and when combined with the 50-day and 100-day EMAs at $1.728 and $1.808 respectively, it
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