Open Interest (OI) is a critical but often underutilized metric in the world of #CryptoTrading. This #guide will help you understand what #Openinterest is, how to use it effectively, and how to combine it with other trading instruments to enhance your trading strategy and boost profitability.

What is Open Interest?
Open Interest represents the total number of outstanding derivative contracts, such as futures or options, that are currently open and active. It’s a measure of the flow of money into the futures market and an #Indicator of market #Sentiments and liquidity.

Why is Open Interest Important?
Market Sentiment: Increasing OI suggests new money is flowing into the market, indicating a potential continuation of the current trend. Conversely, decreasing OI suggests money is leaving the market, which could signal a trend reversal.Liquidity: High OI indicates a liquid market where it is easier to enter and exit positions without significant slippage.Confirmation Tool: OI can be used to confirm trends. For instance, a price increase accompanied by rising OI suggests a strong bullish trend.

How to Use Open Interest in Crypto Trading
To effectively incorporate OI into your trading strategy, it’s essential to combine it with other instruments and indicators. Here are some practical strategies:
1. Combining OI with Price Action
Trend Confirmation: Use OI to confirm price trends. If prices are rising and OI is increasing, it suggests that the upward trend is strong and likely to continue. Conversely, if prices are rising but OI is falling, it may indicate that the trend is weakening.Divergence Analysis: Look for divergences between price and OI. For example, if the price of a cryptocurrency is rising but OI is decreasing, it could be a warning sign that the bullish trend is losing momentum.
2. OI and Volume Analysis
Volume Confirmation: High trading volume alongside increasing OI can confirm the strength of a price movement. Conversely, if volume is high but OI is decreasing, it might indicate short-term speculation rather than a strong trend.Volume Spikes: Sudden spikes in volume accompanied by rising OI can signal the beginning of a new trend or the end of a consolidation phase.
3. OI and Volatility
Volatility Analysis: Track changes in OI along with volatility measures like the Bollinger Bands or the Average True Range (ATR). Rising OI in a low volatility environment might signal a breakout, while high volatility with increasing OI can indicate a strong trending market.Volatility Breakouts: Use OI to identify potential breakouts. A sudden increase in OI during a period of low volatility might precede a significant price move.
4. OI and Sentiment Indicators
Market Sentiment: Combine OI with sentiment indicators like the Fear and Greed Index or social media sentiment analysis to gauge the overall mood of the market. High OI during extreme greed could indicate a potential bubble, while high OI during extreme fear might present a buying opportunity.Contrarian Signals: Use OI to identify contrarian trading opportunities. For example, if OI is rising significantly in a bearish market, it might indicate that a bottom is forming.

Practical Example: $RSR
Trade Analysis
Let's delve into a practical example to illustrate how Open Interest can be used effectively in trading decisions. The following images and analysis provide a detailed look into an RSR/USDT trade.
Example Breakdown:
Step 1: Identifying Key Levels on Higher Timeframe
The 4-hour chart of RSR/USDT shows a significant support level that was broken down. This breakdown indicated a potential change in trend direction from bullish to bearish.

Step 2: ERKEScan Alert
ERKEScan triggered an alert for a significant increase in Open Interest (OI Change 1h: 5.231). This alert indicates a substantial number of new positions being opened, suggesting strong market activity.

Step 3: Zooming into Smaller Timeframes
Moving into a smaller timeframe , we see that the price popped right into the newly formed resistance zone from the 4-hour breakdown level. This movement provided an ideal entry point for a short trade.

The chart shows the significant spike in price followed by a quick reversal, confirming the resistance level's strength. Many positions were placed at this level, providing a high-probability trade setup.
Trade Execution
Based on the higher timeframe analysis and the confirmation from the OI spike, we could enter a short trade on RSR at the resistance level. The trade benefits from the confirmation of increased OI and the price action aligning with our higher timeframe analysis.
Using ERKEScan's Top10 Leaderboard to Filter Fake Signals
To avoid being misled by fake OI signals, you can use ERKEScan's Top10 leaderboard feature. This tool shows the top 10 tokens with the highest Open Interest increases, allowing you to filter out any anomalies or false signals. By focusing on the tokens with the most significant OI changes, you can make more informed trading decisions and enhance your strategy's effectiveness.

Conclusion
Open Interest is a powerful tool that, when used correctly, can provide valuable insights into market sentiment, liquidity, and potential price movements. By combining OI with other trading instruments such as price action, volume, volatility, and sentiment indicators, you can develop a robust trading strategy that enhances your profitability in the crypto market.
As you refine your strategy, consider using advanced tools and platforms that offer real-time OI data and customizable alerts, like the ErkeScan crypto screener. By leveraging these resources, you can stay ahead of the market and make more informed trading decisions.
With these strategies, you'll be well-equipped to incorporate Open Interest into your trading arsenal and improve your chances of success in the dynamic world of crypto trading.

#airdropsguide
In the world of cryptocurrencies, an "airdrop" is a commerce campaign when a blockchain gives away complimentary tokens or coins to the public. An airdrop is typically conducted to spread awareness of the project and to create buzz.

Airdrops in crypto are free tokens that are given to users as a way to promote a new cryptocurrency. For example, if new crypto is launching, they may airdrop tokens to users of a popular crypto wallet as a way to generate interest and awareness. People who have a specific quantity of another cryptocurrency, such as Bitcoin or Ethereum, are typically eligible for airdrops. There are multiple distinct approaches for obtaining airdrops. The most common is to simply hold the required cryptocurrency in your wallet at the time of the airdrop. Some airdrops will require you to sign up for a mailing list or complete other simple tasks. It's possible to acquire free cryptocurrency via airdrops.

Token distribution methods termed "airdrops" have become increasingly common in the cryptocurrency world. Many projects have used airdrops as a way to give away tokens to early adopters and build a community around their projects. But who founded airdrops in crypto? The first airdrop in the cryptocurrency space was conducted by the Bitcoin project. In 2013, they airdropped 50 bitcoin to people who signed up for the airdrop. This was encouraged to raise interest in Bitcoin and educate people about it. Several more projects have since carried out their airdrops in a similar manner. Some notable airdrops include Stellar Lumens, which gave away $125 million worth of their XLM tokens, and TRON, which airdropped $30 million worth of their TRX tokens. Airdrops are a great way to get people involved in a project and create a buzz around it. So if you're thinking about conducting an airdrop, make sure to do your research and plan it out carefully

The process of air dropping

There are two types of crypto airdrops. The first one is where it comes as a surprise to the user. You wake up one day to find your wallet loaded with crypto coins, and it creates a buzz as to where they came from.

The other method is pre-airdrop announcement where the blockchain based startups announce it beforehand to get the buzz going. In the majority of the cases, the primary goal is to bootstrap the project. The user may need to complete several processes before they can qualify for the airdrop.

What are the reasons for airdrops?

The cryptocurrency enterprises and wallet services may choose to reward loyal customers with cryptocurrency tokens. The main aim is to serve as an incentive for the customers to continue using the platforms.Airdrops can prove useful in creating a buzz regarding a new startup. It is a way of getting people to use the new cryptocurrency through increased user participation. Bitcoin Cash used this method to create awareness, and it became a top 10 cryptocurrency, as a result.Cryptocurrency enterprises can also use airdrops to enhance their marketing campaigns. For example, users may get promises of tokens once they fill an online questionnaire to generate leads.

You can participate in cryptocurrency Airdrops by following the rules set to make you eligible to participate and win in the event. An example is the Bitget's Super Airdrop event. This is a great way to receive free tokens and become more involved in the cryptocurrency community. Here's how you can participate:

1. Create an account on the platform offering the airdrop - In this case, you would need to create an account on the Bitget exchange platform.

2. Meet the eligibility requirements - For Bitget's Super Airdrop event, participants must hold at least 4,000 BGB tokens in their Bitget accounts prior to the opening of trading for newly listed tokens on the exchange.

3. Complete any additional requirements - Some airdrops may require additional tasks, such as following a project on social media or completing other actions to be eligible for the airdrop. For Bitget super airdrop event, you need to hold a total of 4000 BGB token for a period of 15 days prior to the listing of a new token on the exchange to qualify for Airdrop of newly listed tokens on the exchange.
4. Receive the airdropped tokens - Once you have met the eligibility requirements and completed any additional tasks, you will receive the airdropped tokens in your wallet.
It's important to note that while airdrops can be a great way to receive free tokens, there are also many scams and fraudulent projects out there. It's important to carefully research any project or airdrop before participating, and to never give out personal or sensitive information to untrusted sources.
#airdrop #airdrops #AirdropGuide #guide

The first digital assets, also known as cryptocurrencies, appeared back in 2009. Back then, people couldn’t even imagine how such finance would change the world as we know it.

Thanks to blockchain and crypt, various kinds of marketplaces, NFTs, DeFi and much more began to appear, which are making noise in the information space today. Tens of thousands of people have changed their lives thanks to Bitcoin. Many found a new craft and meaning in life. Today there is no civilized person left who has not heard something about cryptocurrency trading, mining and digital assets. However, there are people who mistakenly believe that Bitcoin can only be mined with a huge mining rig. But initially, when the industry was just emerging, the first miners mined Bitcoin using a home laptop. True, many of them did this as a hobby and successfully lost their hard drives or wasted BTC on all sorts of nonsense like pizza.

Phishing measures are becoming increasingly necessary as hackers attempt to steal your personal information and funds online every day. 
According to a recent report by Scam Sniffer, in February, about 57,000 victims suffered losses of around $47 million due to crypto phishing scams. They pointed out that “most victims were lured to phishing websites through phishing comments from impersonated Twitter accounts.” 
Therefore, to avoid falling into the hands of fraudsters, you need to be able to recognize phishing and know how to protect yourself and your money. In this article, we will discuss this in detail.
Latest Hacker Attack On Exchanges
Cybersecurity company Lookout has announced the disclosure of a new phishing tool called CryptoChameleon. This tool demonstrates a new tactic aimed at some cryptocurrency exchanges such as Binance, Gemini, Coinbase, as well as the US Federal Communications Commission (FCC) via mobile phones. Attackers can create copies of single sign-on (SSO) pages and then use a combination of email and voice calls to obtain user data.
The report notes that CryptoChameleon has attacked employees of the Federal Communications Commission and Binance. In addition, users of Binance, Gemini, ShakePay, and other exchanges were affected. CryptoChameleon uses phone numbers and websites that look legitimate and represent the company’s support service in Gmail, iCloud, Outlook, X, and other services.
Lookout reported that they were able to speak to some of the victims and confirm that a combination of phone calls and messages were used to force the victim to complete the process.
“In one scenario, a victim received an unsolicited phone call that spoofed a real company’s customer support line. The person on the other end of the line was the threat actor, but sounded like a member of the support team from that company.”
Hackers informed the user that their account had been hacked, but they would help them restore it. During a phone conversation with the victim, the attackers would send a message that redirected to a phishing page.
The company’s analysis revealed more than 100 successful phishing attempts and ongoing phishing activity, mostly on Hostwinds, Hostinger, and Russian RetnNet servers. The vast majority of victims are located in the United States.
How Do I Recognize Phishing?
The main goal of phishing is to obtain confidential user information.
Attackers commonly send emails with malicious links on behalf of websites or exchanges. These can be security warnings, account hacking, various surveys, etc. Fraudsters usually emphasize the urgency of action or attract attention by offering a large reward for participation.
Signs that may indicate that the email is fraudulent:
The message uses subdomains, misspelled URLsThe message is written in a way that instills fear or a sense of urgency.The email asks you to confirm personal information, such as financial information or a password.The message is written illiterately and contains spelling and grammatical errors.
There are other verification methods used by companies such as Binance, WhiteBIT, and KuCoin, which have an additional way to verify the authenticity of an email with the Anti-Phishing feature. After activating it, the user has to enter a custom code that will signal that the email came from these companies. After saving the code, every time the user receives a technical email from the exchanges, it will contain this code.
How To Avoid Phishing Scams?
Use strong passwords and enable two-factor authentication: Use a strong and unique password for all accounts. Don’t write them down in an easily accessible place or share them with others. For storing and managing complex passwords, it’s best to use a password manager, such as 1Password, LastPass, Dashlane, and others. Enable two-factor authentication for all accounts to provide an extra layer of security. To do this, you can install a 2FA app on your phone, such as Google Authenticator, Authy, 2FAS, etc.
Don’t ignore update notifications: Security patches and updates are released primarily to address current cyberattack techniques, closing security gaps. Set your software to update automatically to avoid new threats.
Check the website address before entering your information: The URL of a page can often differ from the domain by a single letter and sometimes by case. For example, 1-l, I-l (uppercase “i” and lowercase “l”). It is also not recommended to enter passwords and logins on websites without HTTPS (a lock icon next to it) — it protects the connection and encrypts data.
Do not click on suspicious links: Commonly, scammers use links about winning millions of dollars or gifts as a lure. Therefore, do not click on such links and always check all current sweepstakes and company events.
Summary
Understanding phishing schemes and their signs is the most important thing in the fight against this type of fraud.
By knowing how to recognize harmful attacks and what methods attackers use, users can better protect their personal data. And by following the above recommendations, they can reduce the likelihood of theft.\

#security #phishing #guide

🔆 In the fast-paced world of cryptocurrency, DYOR (Do Your Own Research) emphasize the crucial practice of self-education before investing. This principle is vital due to the market's volatility and the prevalence of scams.
♨️What is DYOR ?
DYOR coins highlight the importance of conducting independent research on cryptocurrencies before investing. This practice helps investors identify legitimate and promising projects, reducing the risk of fraud and poorly managed ventures.
♨️Why DYOR Matters?
1. Minimize Risk: Research helps avoid scams and bad investments.
2. Empowerment: Informed decisions lead to better portfolio management.
3. Market Insights: Staying updated with trends and regulations is crucial.

♨️How to Conduct Effective Research?
1. Project Whitepapers: Review for purpose, technology, and roadmap.
2. Team and Partnerships: Look for experienced developers and strong partnerships.
3. Community and Social Media: Active, transparent communication is a good sign.
4. Market Performance: Check consistency in trading volume and price stability.
5. Technological Innovation: Ensure the coin solves real problems.
6. Regulatory Compliance: Verify adherence to regulations.

🔗 Conclusion
DYOR is essential for navigating the crypto market confidently. Thorough research and staying informed empower investors, helping them make smarter, safer investment choices. In crypto, knowledge is power.
#guide #LearnTogether #DYOR