Hyperliquid rolled out its HIP-4 upgrade on testnet this week, adding prediction market contracts to its trading engine. As news broke that Hyperliquid could be about to enter the Prediction Markets space, the HYPE price reacted quickly, jumping +20% in 24 hours.
HYPE is now trading just under $37, with daily derivatives volume reaching $11.7Bn, making it one of the hottest tokens on the market right now as broader market sentiment remains bearish.
This move comes as on-chain trading continues to pull users away from traditional exchanges, and Hyperliquid is leading the charge, outperforming all major caps, including .
What Just Changed on Hyperliquid with the HIP-4 Upgrade?
The HIP-4 upgrade allows Hyperliquid to add prediction markets. These are simple yes-or-no contracts, such as “Will Bitcoin hit $80,000 by March?” Instead of borrowing money or facing liquidations, traders will lock in collateral upfront using USDH, Hyperliquid’s stablecoin.
This is a huge move for HYPE, as the two largest prediction markets, Polymarket and Kalshi, have processed a combined $36Bn in volume since their launch, highlighting just how lucrative the industry is right now.
If Hyperliquid can carve out its own piece of the prediction market liquidity, combined with its multi-million-dollar daily fees and multi-billion-dollar daily perp volume, it could take the platform to the next level, which is sure to have a bullish effect on the HYPE price.
Hyperliquid has entered prediction markets with HIP-4 enabling binary outcome trading
Prediction markets are the fastest growing sector with nearly $36bn in cumulative volume across @Polymarket and @Kalshi
House of all finance. https://t.co/AAujbnMIO4 pic.twitter.com/8yXrop1LmW
— perry (@perry8888_) February 2, 2026
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
Why is Hyperliquid so Hot Right Now? HYPE Price to $50?
Hyperliquid already dominates the volume game and has surpassed $11Bn in daily trading, rivaling big centralized platforms, which helps explain why Hyperliquid’s open interest keeps setting records.
Last week alone, the HYPE price gained about +35% as traders piled into the strongest charts in crypto, and none have shown more strength than Hyperliquid.
That activity generated roughly $26M in daily fees for the Hyperliquid team, and the key point is that 97% of those fees go toward buying back HYPE on the open market.
Buybacks reduce supply. A tighter supply can support higher prices if demand holds, and with the Hyperliquid team holding over 40M HYPE tokens ($1.4Bn) through its buyback program, it reduces volatility while increasing investor comfort in holding the token.
There is also hope that the Hyperliquid team will use a portion of its buyback stack for a future airdrop, which would reward platform users handsomely and serve as another catalyst for both platform usage and the HYPE price.
(SOURCE: DefiLlama)
Bonus: Hyper, The First Ever Bitcoin Layer-2 Protocol, Slams $31.2M in ICO Funding
While Hyperliquid and the HYPE price are foremost thoughts on most traders’ minds right now, Bitcoin Hyper (HYPER) isn’t far behind. Billed as the first-ever native Layer-2 protocol for Bitcoin, HYPER has attracted over $31M in funding to date, due to its tech potentially unlocking billions of dollars in untapped liquidity on the Bitcoin core layer.
The HYPER development team is leveraging the Solana Virtual Machine (SVM) to process transactions. This technology enables near-instant transaction speeds and extremely low fees, with final settlement occurring on the Bitcoin core layer.
Are you ready to unleash the full power of Bitcoin? 🚀
Everything is going to change. 🔥⚡️https://t.co/VNG0P4GuDo pic.twitter.com/1SMXKji4bU
— Bitcoin Hyper (@BTC_Hyper2) February 3, 2026
This innovation could be a game-changer for Bitcoin, with HYPER holders standing to gain the most. The project could unlock billions in liquidity for Bitcoin, potentially making the HYPER token one of the biggest runners in 2026.
Before the presale ends and HYPER becomes widely available on decentralized exchanges (DEXs) and possibly a top-tier centralized exchange (CEX), consider buying some coins at ICO prices to lock in profits today.
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