The HYPE token of Hyperliquid has become the most profitable asset in the cryptocurrency market, rising by over 20%! During this period, when the HyperCore team announced support for the HIP-4 proposal that will bring 'outcome' trading, activity is at its peak.
This development is a strategic step for the decentralized perpetual futures platform. Because Hyperliquid wants to take a share from this rapidly growing sector.
Hyperliquid's HIP-4 Proposal Has Brought HYPE to a 2-Month High
According to market data, HYPE rose by 22.39% in the last 24 hours, far surpassing the overall market increase of 3.6%. With this performance, it ranked first among the top 100 cryptocurrencies according to CoinGecko.
At the time the news was being prepared for publication, the price of HYPE was at 37 dollars, marking the highest level seen since November 2025. The trading volume also increased by over 36%, reaching approximately 1 billion dollars.
The rise is backed by the latest network developments. The HyperCore team confirmed its support for HIP-4 on February 2. With HIP-4, outcome trading is being launched: This new contract type will be fully collateralized and designed to terminate within a fixed range.
This structure opens the door to many different use cases such as prediction markets and option-like limited instruments. It should also be noted that outcome trading largely overlaps with prediction markets, but they do not have the same meaning by definition.
Prediction markets are a specific subtype of outcome trading. Here, participants buy and sell contracts based on a future event, and prices reflect the probabilities of possible outcomes.
Outcome trading is a more general term: It encompasses different event-based instruments such as limited options or structured outcome contracts, in addition to prediction markets. In short, every prediction market falls under the umbrella of outcome trading, but not every outcome trading application is a prediction market.
The HyperCore team wrote: 'There is significant user demand in both areas, and developers can create more innovative applications over time.'
Unlike classic derivative products, there is no leverage or liquidation mechanism in outcome-based contracts. Instead, non-linear returns and contracts with specific maturities are in play. According to the team,
'The outcome building block enhances the expressiveness of HyperCore and works in integration with other building blocks like portfolio margin and HyperEVM,' it said.
The HIP-4 outcome trading feature is currently active on the testnet. When technical developments are completed, the protocol aims to create a canonical (reference) market based on objective resources.
Canonical markets will use Hyperliquid's native stablecoin USDH. The team added that, based on user feedback, this infrastructure could also be opened to unauthorized market openings in the future.
This step came with the increased interest following the HIP-3 upgrade on the platform. Activities in the markets opened from the outside continue to grow rapidly; open positions reached an all-time high of 1 billion dollars on January 29. At the time of the news, the amount of open positions was at 929.4 million dollars.
Prediction markets have reached record growth.
On the other hand, prediction markets are attracting attention as a rapidly growing sector, and major players are taking steps to share in the increasing momentum. Coinbase launched prediction markets by partnering with CFTC-licensed Kalshi for all users in the US. This indicates that adoption across the sector is increasing.
Interest in this sector is increasing along with the rise in trading volume on platforms. According to Dune data, monthly trading volume reached a record 12.4 billion dollars in January 2026. Among the leaders are Kalshi, Polymarket, and Opinion.
In the first three days of February, the trading volume already reached 1 billion dollars. This table shows how strong the growth pace in the sector is.
Overall, Hyperliquid's support for HIP-4 shows that the protocol is not limited to classic perpetual futures. As demand for outcome-based trading products increases, Hyperliquid's ecosystem seems likely to grow as well. Prediction markets being one of the prominent applications under this umbrella and the successful implementation of HIP-4 could drive new user acquisition.