Highlights:
- Hyperliquid’s HYPE token soars as the platform announces its entry into the prediction markets space.
- The blockchain is currently testing the resulting transactions on Hyperliquid’s testnet.
- This will result in Hyperliquid competing with platforms such as Polymarket and Kalshi once trading begins.
Hyperliquid’s native token HYPE rose more than 20% today, February 3, 2026, following the announcement of the platform’s HIP-4 upgrade, which will introduce “results trading” to the testnet. With this announcement, Hyperliquid is now poised to enter the currently booming prediction markets space targeting events such as elections, sports results, and global events, and this inclusion will position the platform as a multi-faceted DeFi powerhouse.
As of press time, the token’s price is $37.44, according to CoinMarketCap, up 22.4% in the past 24 hours.
Hyperliquid Enters the Prediction Markets Space
The core of HIP-4 is to allow people to bet on real-world events directly on the blockchain. Users can bet on simple yes/no outcomes, such as “Will candidate X win?” or “Will Team Y be the champion?” without relying on external systems or broken money pools.
The announcement comes at a time when prediction markets are booming, with trading volume reaching $12.4 billion last month. Hyperliquid, already known for fast cryptocurrency trading on its blockchain, now wants to enter this fast-growing market along with several other blockchains. For example, BNB Chain recently entered this space with PredictBNB and PancakeSwap Prediction.
The move puts Hyperliquid in direct competition with established platforms such as Polymarket, which currently dominates election-related betting. Hyperliquid believes that blockchain has the advantage of being fast and inexpensive to use. Users can also receive lower transaction fees by staking HYPE tokens.
Additionally, HYPE tokens are not only used to pay fees, these tokens also allow users to vote on how prediction markets work. For example, these tokens are also used to determine the rules of prediction markets and how event outcomes are verified, which is how they give users a real say in the system.
Although HIP-4 is still in the testnet phase, the platform’s increasing trading volume has helped it attract the attention of traders and builders. Additionally, this launch will increase the utility and demand of the HYPE token. Trading volume also increased by 44.81% in the last 24 hours.
What’s next?
US regulations could pose a challenge, and Hyperliquid’s decentralized setup and global focus reduces that risk. If HIP-4 works as planned, it could catapult Hyperliquid into one of the top tiers of prediction markets and increase demand for the HYPE token.
Also Read: Hyperliquid’s Silver Boom Rises $HYPE Token Above $30
