Hyperliquid's HIP-4 event contracts went live, adding a prediction market to the protocol's trading stack. According to defioasis, the contracts recorded $6.05 million in nominal trading volume on the first day, capturing roughly 0.7% of the daily prediction market share. Kalshi led with $546 million in contracts, followed by Polymarket at $190 million, Limitless at $68.26 million, Crypto.com at $28.2 million, Opinion at $25.72 million, and Predict Fun at $11.8 million.
HYPE Consolidates Near Range Top, $44 in Focus
HYPE (HYPE) traded at $41.64 at press time, with a 24-hour volume of $255.91 million, per crypto.news data. The token gained 1% in the past day but remains down nearly 2% over the past week. Market cap stood near $9.92 billion based on a circulating supply of 240 million HYPE. The price is consolidating near the upper part of its recent range, with resistance between $42.50 and $44.00. Support sits at $40.50 to $41.00; holding that zone could allow buyers to push toward $42.50 and $44.00. A break below $40.50 would weaken the setup, putting $38.00 and $36.00 back in play.
RSI at 54.38 sits above its moving average of 51.94, indicating mild bullish momentum but no strong buying pressure. A move above 60 would strengthen the bullish case, while a drop below 50 would signal weakening demand. The MACD shows mixed signals: the MACD line at 0.357 is below the signal line at 0.510, and the histogram at -0.153 suggests bearish pressure has not fully cleared, though the move appears to be stabilizing.
Hyperliquid's Broader Ecosystem Supports Attention
Hyperliquid runs its own layer-1 blockchain built for high-frequency trading. Its main product is an on-chain perpetual futures exchange, while the ecosystem also supports spot trading, lending, borrowing, and HyperEVM for Solidity-based apps. Part of trading fees goes toward buying back and burning HYPE tokens, linking exchange activity to token economics.