What Is an Open Price?
Open price indicates an asset‘s value at first trade within a given period, typically at the beginning of a day. In traditional finance (TradFi), this price is usually not the same as the previous day’s closing price; however, in the crypto world — where the market is open 24 hours — these are naturally aligned.
What Is Knowing the Open Price Useful For?
The difference between the current price and the open price is used to determine the way the market may be headed since the beginning of the day.