Hyperliquid is preparing to activate HIP-4 to open prediction markets and trade Options, but all products will only be priced in USDH to maintain fees within the ecosystem and support the HYPE buyback program.
In the context of a weakening crypto market, HYPE still demonstrates resilience thanks to the pull from new products and market share growth. The expansion into prediction markets and Options is gaining attention as these are the hot “narratives” following stablecoins and tokenization.
MAIN CONTENT
Hyperliquid plans to activate HIP-4 to implement prediction markets and Options.
All new products will only use USDH, helping retain fees within the system and support HYPE buybacks.
RWA (equity perps, tokenized stocks/ETFs with leverage) has reached 10% Open Interest after about 1 month, contributing to the price recovery of HYPE.
Hyperliquid expands into an 'everything exchange' with HIP-4
HIP-4 aims to add prediction markets and Options directly on Hyperliquid, expanding the product range beyond the current perpetual DEX.
Hyperliquid states that the plan is to activate Hyperliquid Improvement Proposal-4 (HIP-4) to support prediction markets and Options trading. These are two areas attracting attention in crypto, especially as demand around stablecoins and tokenization increases.
The highlight of the product design is that trading pairs will be denominated entirely in USDH, the native stablecoin within the Hyperliquid system. The goal is to keep the generated fees 'in-house' to redistribute for internal initiatives, including the HYPE buyback program.
USDH is a fee retention mechanism and supports HYPE buybacks
The requirement to price in USDH helps Hyperliquid consolidate fee streams into one asset within the system, thereby increasing the capacity for reinvestment into HYPE buybacks and other programs.
According to the description in the update content, the fees generated from new products will be used to support the HYPE buyback program and related initiatives. The way to 'recycle' this fee stream is often seen as a strategy to strengthen sustainability for the token model, as platform revenue is not dispersed to assets outside the system.
Equity perps via HIP-3 helped Hyperliquid increase its market share to 33%
Thanks to the pull from equity perps (HIP-3), Hyperliquid increased its market dominance to 33%, an increase of 15% in just a few weeks.
The original content states that equity perps on perpetual DEX via HIP-3 has become a huge success, helping the platform's market share reach 33%. This level corresponds to a 15% increase in a few weeks, showing real demand for derivative products linked to traditional markets (stocks) in an on-chain environment.
RWA increased from 0% to 10% Open Interest in about a month
The RWA product group on Hyperliquid (equity perps, stocks, and leveraged tokenized ETFs) has accounted for 10% of the total Open Interest after about a month.
In the original content, RWA is described as a synthesis of equity perps transactions and leveraged tokenized stock/ETF products. The proportion of this group has increased from 0% to 10% of Hyperliquid's Open Interest (OI) in about a month, reflecting a relatively fast absorption rate of the product.
According to analyst Dan Smith, the proportion of RWA could soon reach 50%. The reference is noted in the article as Dan Smith's post.
Prediction markets are in testnet and may launch soon
Hyperliquid has not announced an official timeline, but has stated that prediction markets are running on testnet and may be ready soon.
At the time mentioned, the launch schedule for prediction markets has not been publicly disclosed. However, the platform has indicated that the feature is operating on testnet, implying that the testing phase has begun and the mainnet deployment could come soon if the testing process meets the requirements.
Investors see HIP-4 as a strategic leap after the success of RWA
Some observers assess that HIP-4 reinforces the vision of 'everything exchange', expanding Hyperliquid from perps to multiple asset classes and more trading structures.
Ryan Watkins, founder of Syncracy Capital, commented that this move promotes the vision of 'everything exchange'. Reference post: Ryan Watkins' comment.
"The argument for 'everything exchange' of Hyperliquid becomes clearer over time. By the way, Polymarket and Kalshi are both decacorns."
- Ryan Watkins, Founder Syncracy Capital, quoted from a post on X
The recovery momentum of HYPE depends on the 200-day MA
HYPE has increased by 9% after the HIP-4 update and added another 11% afterwards, but faced resistance around the 200-day moving average; maintaining above this level could open up a target range of 35–38 USD.
The original content reported that HYPE increased by 9% following the information about HIP-4 and continued to add 11% at the time of writing. Thus, the 'second phase' recovery reached 30% from the support area of 28 USD.
The upward momentum cooled near the 200-day moving average, a threshold often viewed as a signal for a sustained upward trend if the price regains and maintains it as support. If it holds above this level, the range of 35–38 USD will be an area that buyers could aim for.
In a positive scenario, the 'third phase' of the rally could bring HYPE to the psychological level of 50 USD, thereby halving the losses incurred from the previous decline as described in the article. Conversely, if market sentiment worsens at the 200-day MA, sellers may pull prices back to test support at 28 USD.
Frequently Asked Questions
What is HIP-4 of Hyperliquid?
HIP-4 (Hyperliquid Improvement Proposal-4) is an upgrade proposal for Hyperliquid to implement prediction markets and Options trading directly on the platform.
Why does Hyperliquid require new products to be priced in USDH?
The price designation in USDH aims to retain the fees generated within the Hyperliquid ecosystem. According to the original content, this fee is used to support the HYPE buyback program and other initiatives.
How has RWA on Hyperliquid contributed to platform activity?
The RWA group (equity perps and leveraged tokenized stocks/ETFs) has increased from 0% to 10% of the total Open Interest of Hyperliquid in about a month, indicating a rapid increase in demand for real asset-related products.
What technical level is important for HYPE's price?
The area around the 200-day moving average is a key level. If HYPE holds above this level, the range of 35–38 USD may be noted; if it fails, the price could return to test support at 28 USD.
Source: https://tintucbitcoin.com/hyperliquid-chuyen-thanh-san-giao-dich-da-nang/
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