The HYPE token climbed to a two-month high after Hyperliquid’s core development team confirmed support for a new protocol proposal aimed at expanding the platform beyond perpetual futures. The announcement comes as outcome-based trading products, including prediction markets, continue to gain traction across the digital asset industry.
Data from CoinGecko shows HYPE rose more than 19.8% over a 24-hour period, outperforming the broader cryptocurrency market. At press time, HYPE was trading near $36.5, marking its highest level since late November 2025, while daily trading volume increased by more than 36% to around $1 billion.
Source: TradingView
HIP-4 Expands Hyperliquid’s Trading Capabilities
The price move followed confirmation on February 2 that the HyperCore team supports HIP-4, a proposal introducing outcome trading to the Hyperliquid protocol. Outcome trading refers to fully collateralized contracts that settle within defined ranges, enabling event-based instruments such as prediction markets, bounded options, and structured outcome products.
JUST IN: @HyperliquidX (HyperCore) will support outcome trading HIP-4, enabling Prediction Markets via fully collateralized, non-linear, fixed-range contracts.
As Chance, we see many new possible integrations on the way.
Prediction Markets Supercycle ? pic.twitter.com/eqNUW6oYPu
— Chance (@Chance_) February 2, 2026
The team noted that while prediction markets fall under the broader outcome trading umbrella, they represent only one application. Prediction markets specifically involve contracts tied to future events, where prices reflect implied probabilities, while outcome trading also includes other non-linear payoff structures.
“There has been extensive user demand in both of these areas,” the HyperCore team said, adding that builders may develop additional applications using the new framework.
Structural Differences and Network Activity
Unlike leveraged derivatives, outcome-based contracts on Hyperliquid are designed without liquidations. Instead, they rely on full collateralization and fixed settlement periods. The team said the new primitive is intended to integrate with portfolio margining and the HyperEVM, increasing the protocol’s composability.
HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments. There has been…
— Hyperliquid (@HyperliquidX) February 2, 2026
HIP-4 is currently live on testnet, with plans to launch canonical markets using USDH, Hyperliquid’s native stablecoin. The proposal follows HIP-3, which helped drive open interest on the platform to an all-time high above $1 billion on January 29, according to protocol data.
Critical Support Levels: $35 – $38
From a market perspective, analysts note that HYPE’s rally has pushed the token into a zone where short-term volatility may increase. Some technical observers, such as Elite Crypto, point to the $35–$38 range as a near-term consolidation area, with momentum indicators suggesting elevated trading activity rather than a clear directional trend. Crypto Analyst, GA Captial, suggested that the next possible HYPE price target would be $44.
$HYPE has clearly played out well delivering nearly 70% move from the earlier levels. After that strong rally, it's price is now moving just above its local support showing that this zone is now being respected
The current consolidation looks goof after such a sharp move and… pic.twitter.com/VTnXwDW5c0
— Elite Crypto (@TheEliteCrypto) February 2, 2026
Broader Context for Outcome-Based Markets
Interest in prediction markets and related products has grown rapidly. According to Dune Analytics, monthly trading volume across major platforms reached a record $12.4 billion in January 2026, led by Kalshi, Polymarket, and Opinion. Volume has already exceeded $1 billion early in February, underscoring continued momentum.
As outcome-based trading gains wider adoption, Hyperliquid’s support for HIP-4 positions the protocol to expand beyond perpetual futures while aligning with broader trends in on-chain financial experimentation.
Bitcoin Hyper: High Staking Rewards After Presale
In parallel with Bitcoin price discussions driven by shifting on-chain activity, infrastructure projects targeting Bitcoin’s functional limitations have remained part of the broader market conversation. Bitcoin Hyper (HYPER) is positioned within this space as a Solana-based Layer-2 that introduces a secondary execution environment for smart contracts and DeFi-style applications, with settlement finalized on the Bitcoin blockchain.
The initiative aligns with the growing BTCFi narrative, which focuses on extending Bitcoin’s utility without modifying its base protocol. Based on publicly available disclosures, the Bitcoin Hyper presale has raised approximately $31.21 million out of a stated $31.61 million.
If you are interested to know more about the token, visit the official website of Bitcoin Hyper.
