Open Interest (OI) in crypto refers to the total number of unsettled or outstanding futures contracts across various crypto futures markets. Open Interest (OI) provides information on the aggregate amount of open positions in a particular contract, making it a key indicator of market sentiment, liquidity, and commitment of market participants. OI not only shows the number of contracts being traded, but also indicates whether or not market participants are committed to maintaining their positions.

By monitoring OI movements, investors can gain insights into market activity and the sentiment of market participants. An increase in OI indicates greater interest in the market, while a decrease in OI may indicate a lack of interest and liquidity. OI can also be used as an indicator of potential market volatility. If OI is high, there is likely to be significant price movement as many market participants close their positions simultaneously.