Hyperliquid’s proposal to add prediction markets sent HYPE sharply higher Monday after HyperCore — the infrastructure layer behind Hyperliquid’s L1 network — said it will support HIP-4, a plan to introduce outcome-based contracts to the platform.
If HIP-4 is approved, Hyperliquid would host fully collateralized, options-like contracts that let users stake on events such as elections, sports and other outcomes. The team frames the new outcome trading as a derivatives-style product that removes leverage, margin calls and liquidations: contracts are bounded, settle within a defined range and operate without forced positions. The feature is still under development and currently available only on testnet, with canonical markets denominated in Hyperliquid’s native stablecoin, Hyperliquid USDH (USDH).
Project leads say strong user demand for prediction markets and capped, options-like instruments motivated support for HIP-4, and they expect the addition to enable novel on-chain use cases beyond simple betting slips.
The market reacted quickly: HYPE jumped about 19.5% to $37.14 after the announcement, extending roughly a 46.9% gain over the past month, according to CoinGecko. The move ties together two growing on-chain trends — perpetuals trading and blockchain-based prediction markets — both of which have attracted large volumes in recent years.
Perpetuals activity remains well above early-2025 levels. Weekly perps volumes hit a peak of roughly $341.7 billion in early November and have stayed above $200 billion over the last four completed weeks, data from DeFiLlama show, representing roughly three to four times the weekly volume seen in January 2025.
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