- OKX will remove $PUFFER/USDT and $SUNDOG/USDT perpetual futures from its platform at 08:00 UTC on June 5.
- A reason wasn’t given, but the low trading activity and intense changes in prices may be behind it.
- Before the delisting, traders are advised to decrease their leverage or exit open positions to limit risks.
OKX has announced it will delist five perpetual futures contracts from its trading platform, effective June 5 at 08:00 UTC. This update affects pairs $PUFFER/USDT, $SUNDOG/USDT, $J/USDT, $SWEAT/USDT, and $MOVR/USDT. While the exchange listed no specific reason for removing each individual asset, traders are paying close attention to PUFFER and SUNDOG.
These tokens have drawn scrutiny due to their recent activity in decentralized finance (DeFi) and their relatively short lifespan in derivative markets. OKX warns users of potential volatility before the removal and urged them to close positions or reduce leverage ahead of the deadline.
Low Liquidity and High Volatility Likely Behind OKX’s Perpetual Delistings?
Although OKX did not disclose why these specific contracts were chosen, several factors may have contributed. Perpetual futures often face delisting if they experience thin liquidity, inconsistent trading volume, or extreme volatility. In PUFFER’s case, the token is linked to Puffer Finance—a decentralized native restaking protocol built on EigenLayer.
Despite strong community interest, the token remains new and tied to a complex infrastructure. Similarly, $SUNDOG appears to have limited presence across major exchanges and a relatively low volume footprint. These elements may raise operational risks for leveraged products like perpetual futures.
Innovation Meets Market Limits in OKX Delistings
Puffer Finance allows users to restake Ethereum natively while operating their own PoS validators. This offers enhanced rewards through EigenLayer integration. Despite its technical innovation, the trading pair $PUFFER/USDT will no longer be supported as a perpetual future. This suggests that market metrics, not project fundamentals, likely drove the decision. The same applies to $SUNDOG/USDT, which lacks major trading traction. OKX appears to be applying a broader risk-control framework in choosing which contracts to delist.
Traders Urged to Act Before June 5 Delisting Deadline
To manage risk before the delisting, OKX advised users to close open positions or reduce leverage on affected pairs. Forced settlements will occur at the time of removal.
As of now, $PUFFER is trading at $0.2373, showing a notable 22.2% price increase, signaling short-term positive momentum despite the delisting news. However, the exchange has warned that market volatility may increase as the deadline approaches, urging traders to take action promptly.
