Decentralized exchange and Layer-1 blockchain Hyperliquid is building on its strong price performance this week and announced the upcoming launch of HIP-4 markets, enabling prediction-market-like outcome trading.
“Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments,” said the official X account.
HYPE jumped on the announcement and is up 7% over the last 24 hours amid the broader market rebound.
Today’s move extends HYPE’s strong momentum, with the token up 34% over the last week despite BTC falling 10% over the same period.
Hyperliquid’s recent price action is driven by the success of its HIP-3 upgrade, which enabled permissionless perpetual markets where providers tokenize traditional real-world assets such as Nasdaq Futures, Gold, and Forex.
HIP-3 trading via the leading market provider, TradeXYZ, exploded last week, with the exchange processing over $12 billion in volume compared to $3.75 billion the week before.
Sam Ruskin, a research analyst at Messari, took to X to speculate on the upcoming HIP-4 launch.
“This could be very bullish for pre-IPO trading on Hyperliquid. We’re about to see the most news-driven IPO cycle ever (OpenAI, SpaceX, Anthropic). There will undoubtedly be demand to bet on those markets, but the fundamental flaw for pre-IPO perps is that they rely on sketchy, unverified, private data. It’s too risky for both makers and takers to get involved at scale.”
“Prediction markets solve the oracle problem entirely. No oracles, no liquidation risk, less incentive for toxic flow,” Ruskin concluded
