Crypzee

Cat in a dog World is like 5.20% away from our order just we need to wait a Lil bit

We placed a buy limit order in MEW at $0.006169

Perpetuals Open Interest $217.62 B Future Open Interest $3.25 B @CoinMarkCap 🚀

*What is Open Interest?*

Open interest (OI) is the total number of futures contracts that are active and unsettled in a market at a given time.

*How does it work?*

When a trader buys or sells a futures contract, a new contract is created. If the trader closes his position, the contract will be settled. But if he does not close it, the contract remains open.

*Importance of Open Interest:*

1. *It indicates market liquidity*: High open interest indicates a liquid market, where it is easy to enter and exit positions.
2. *It measures trader participation*: An increase in open interest can indicate that more traders are participating in the market.
3. *It helps identify trends*: An increase in open interest can indicate an uptrend, while a decrease can indicate a downtrend.

*Example:*

Let's say the gold futures market has an open interest of 10,000 contracts. This means there are 10,000 active and unsettled gold futures contracts.

*Tips for new traders:*

1. Monitor open interest to understand liquidity and market participation.
2. Combine open interest with other technical indicators to make informed decisions.
3. Don't rely on open interest alone to make trading decisions.