Bybit Delists OLUSDT Perpetual Contract: What Traders Need to Know

Bybit has announced the upcoming delisting of the OLUSDT perpetual contract, a move that will remove one of the primary venues for leveraged trading of Open Loot (OL). The contract will be delisted on June 8, 2026, at 8:00 UTC, with all open positions automatically closed at the mark price at that time. This decision follows a period of notable volatility for OL, including sharp price drops on Gate Futures in late May 2026.

What Happened and Why It Matters

On June 1, 2026, Bybit confirmed the delisting of the OLUSDT perpetual contract. The exchange cited standard review processes, though such actions often reflect low liquidity, reduced trading volume, or compliance considerations. For OL holders, this means the loss of a major futures market, potentially leading to wider spreads and less efficient price discovery on remaining venues.

Recent price action for OL has been turbulent. Data from Gate Futures shows multiple sharp drops in late May, including a 12.99% decline over five minutes on May 29, 2026, and a 12.2% drop over 30 minutes the same day. These moves were preceded by brief spikes, indicating heightened volatility. At the time of the delisting announcement, OL was trading near $0.0071, down significantly from its earlier levels around $0.0088.

Token Snapshot: Open Loot (OL)

Open Loot is a Web3 gaming platform that simplifies blockchain integration for developers and players. It offers gas-free NFT trading, rentals, and a marketplace, while providing developers with tools for game launching and token design. The OL token operates on Ethereum (contract: 0x1F57da732A77636D913C9a75d685B26CC85DCC3A) and is also part of the BNB Chain ecosystem.

• Current supply: 5,000,000,000 OL (approx. 791.96 million in circulation)
• Active markets: 106 (including spot pairs on various exchanges)
• 24-hour trading volume: ~$924,469 (at time of metadata snapshot)
• Tags: Gaming, NFTs, Ethereum Ecosystem, Binance Alpha

Despite the futures delisting, OL retains spot market presence on multiple exchanges, including a recent listing on LCX Exchange (January 2025).

Risk Considerations

Disclaimer: Delistings can lead to reduced liquidity and increased price slippage. The information provided here is for educational purposes only and does not constitute financial advice.

Traders should be aware that the removal of the Bybit perpetual contract may concentrate OL futures activity on fewer platforms, potentially amplifying volatility. The token's price has already shown sensitivity to market events, as evidenced by the sharp drops in late May. Additionally, the overall market cap of OL is relatively small (around $8 million per CoinMarketCap), making it susceptible to larger price swings.

Where to Trade OL Now

While Bybit futures are closing, OL remains tradable on spot markets across 106 active venues. For those seeking automated trading strategies or alternative access, consider using a dedicated trading bot. Trade with our bot to explore options.

Stay informed and manage risk carefully as the delisting date approaches.