Hyperliquid said the outcome trading feature would function like a form of derivatives trading without leverage, liquidations or margin calls.
HYPE jumped into double digits Monday after HyperCore — the infrastructure behind Hyperliquid’s layer-1 network — announced it will support HIP-4, a proposal to add prediction markets to Hyperliquid.
If approved, the integration would enable fully collateralized contracts on Hyperliquid, letting traders place bets on elections, sports and other events. The team said support for HIP-4 was driven by strong user demand for prediction markets and bounded, options-like instruments, and that the proposal could enable additional novel applications on the platform.
HIP-4’s outcomes would behave like capped betting slips, settling within a defined range and operating without leverage, liquidations or margin calls. The feature is still a work in progress and currently running only on testnet. Canonical markets would be denominated in Hyperliquid’s native stablecoin, Hyperliquid USDH (USDH).
Following the announcement, HYPE rose about 19.5% to $37.14, extending a roughly 46.9% gain over the past month even as the broader crypto market cooled, CoinGecko data shows.
The move combines two strong crypto trends: on-chain perpetuals and blockchain-based prediction markets. Both have seen significant traction and large daily volumes over the past two years.
Perpetuals trading volume remains elevated despite cooling from a November record. After a peak weekly volume of $341.7 billion in early November, weekly perps volume has stayed above $200 billion over the last four completed weeks, according to DeFiLlama data. Recent weekly volumes are roughly three to four times higher than January 2025 levels.
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