What difference between open interest and trading volume?

Cryptocurrency contract open interest and trading volume are two different concepts.

1. Contract Open Interest: Contract open interest refers to the total number of open positions on contracts on an exchange or trading platform. It represents the total number of contract positions held by market participants at a given time. Contract open interest can be differentiated between long (buy) and short (sell) positions and can be used to assess overall market sentiment and trends.
2. Trading Volume: Trading volume refers to the total number of trades executed within a specific period of time. It represents the actual volume of buying and selling transactions that have taken place in the market. Trading volume is an important indicator of market activity and liquidity, often used to analyze market supply and demand dynamics and price trends. Trading volume can be measured in the base currency (e.g., the quantity of Bitcoin) or in the quote currency of the trading pair (e.g., USD).

In cryptocurrency trading, contract open interest and trading volume both provide insights into market participants' behavior and market sentiment, but they reflect market activity from different perspectives.