HYPE or Hysteria? Hyperliquid’s HIP-4 Dances with Destiny

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A Tale of Tokens and Temerity

  • Hyperliquid, that audacious minx of decentralized exchanges, has birthed HIP-4, a protocol so bold it dares to predict the future-or at least trade on it.
  • These contracts, fully collateralized and dated, prance about without leverage or liquidations, like a cat burglar in a ballroom.
  • HYPE, the token with a name as subtle as a sledgehammer, leapt 8%, reaching the dizzying heights of $32.29. One wonders if it’s euphoria or mere delusion.

In a move that would make even the Master and Margarita blush, Hyperliquid has unveiled HIP-4, a protocol that allows outcome trading. Yes, dear reader, the future is now-or at least, it’s being traded on a blockchain. Users may now frolic in prediction markets and options-like contracts, all fully collateralized and settling within a fixed range. How quaint.

HyperCore, the beating heart of Hyperliquid’s trading engine, shall embrace this new mode with open arms. A safer haven for those who shun the siren call of leverage, it promises. But will it deliver, or shall it merely add another layer to the onion of financial folly?

For now, the launch lingers in the testnet stage, a mere shadow of its future self. USDH, Hyperliquid’s native stablecoin, shall be the first to settle these trades. Later, like a child let loose in a candy store, users may create new trading pairs without restraint. Chaos, thy name is permissionless deployment.

HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive, as useful as a cat’s whiskers in a dark alley. There has been…

– Hyperliquid (@HyperliquidX) February 2, 2026

The Anatomy of HIP-4 Contracts

These new contracts, dated and derivative, waltz without leverage or liquidations. A safer bet, they say, than traditional margin trading. General-purpose primitives, they are-a blank canvas for developers to paint their prediction markets and options-like instruments. How very artistic.

Permissionless deployment, the final act, shall allow users to create new outcome pairs freely. A utopia of trading, or a madhouse of speculation? Only time will tell.

HIP-4 follows in the footsteps of HIP-3, which allowed the swift creation of markets like silver and gold trading on-chain. HIP-3, that darling of the blockchain, grew faster than a rumor in a small town. A testament to Hyperliquid’s ability to support fast-growing markets, or merely a fluke? You decide.

HYPE Token: A Leap of Faith or Folly?

HYPE, ever the drama queen, soared 8% in 24 hours, reaching $32.29. In a week, it gained over 35%, defying the market crash like a rebel without a cause. Is this the dawn of a new era, or merely the last gasp of a dying star?

This update, they say, will attract both the leveraged and the cautious, a true melting pot of traders. Hyperliquid, already a contender in market depth, dares to challenge Binance in trading volumes. Yet, BTC open interest has fallen to $1.77 billion, with total open interest at $4.97 billion. A blip, or a harbinger?

Even after the market’s recent tantrums, HIP-3 boasts over $1 billion in open interest and $4.8 billion in trading activity. Impressive, no? But in the world of crypto, today’s hero is tomorrow’s cautionary tale.

Since last week, HIP-3 markets reached new all-time highs of $1B in open interest and $4.8B in 24-hour volume. A triumph, or merely the calm before the storm?

– Hyperliquid (@HyperliquidX) February 2, 2026

Hyperliquid, ever the optimist, positions HIP-4 to conquer the prediction markets space. Once testing is complete, objective settlement sources shall ensure transparency. But in a world where even the moon has its dark side, can anything truly be reliable?

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2026-02-02 23:14