HYPE Rises 20% After Hyperliquid Backs Prediction Markets

HYPE gained double digits on Monday after the staff behind HyperCore, the core infrastructure powering Hyperliquid’s layer-1 community, mentioned it can help the HIP-4 proposal to develop into prediction markets.

The combination would permit totally collateralized contracts on Hyperliquid, the most important decentralized perpetual futures crypto platform, enabling merchants to wager on political elections, sports activities and different markets.

In an X put up on Monday, Hyperliquid mentioned the help was pushed by “intensive consumer demand” for prediction markets and bounded options-like devices, whereas including that HIP-4 may permit different novel functions to be constructed on Hyperliquid.

HIP-4 outcomes would perform like a betting slip with a capped payout, settling inside a hard and fast vary with out leverage, liquidations, or margin calls.

Hyperliquid mentioned the outcomes buying and selling characteristic is a “work in progress” and is at the moment solely being examined on testnet. The canonical markets could be denominated in Hyperliquid’s native stablecoin, Hyperliquid USDH (USDH).