OI stands for “Open Interest” in the cryptocurrency market. It refers to the total number of outstanding futures or options contracts on a particular cryptocurrency exchange.
Open interest is an important metric because it can give insights into the overall sentiment of the market, as well as the level of trading activity and liquidity. High open interest can indicate that there is strong investor interest in the cryptocurrency, which may lead to higher volatility and trading activity.
The OI figure is updated in real-time and provides valuable information for traders and analysts to understand the dynamics of the market. Additionally, tracking the changes in open interest over time can help to identify trends in market sentiment and trading activity.
Overall, open interest is an important indicator for traders and investors to monitor, as it can provide valuable insights into the state of the cryptocurrency market and the trading activity around a particular cryptocurrency.