Hyperliquid's HYPE token rises on new prediction market protocol and strong buyback support.

Hyperliquid's HYPE token has been steadily rising since early 2026, driven by the recent activation of the HIP-4 protocol which introduced native prediction markets. This new feature requires staking a large amount of HYPE, reducing circulating supply and boosting token utility. The protocol's buyback program, funded by trading fees, also supports the price by purchasing HYPE from the market. Traders are watching the $45-$46 resistance level closely, with a potential rally to $50 if surpassed, though a token unlock on May 6 could cause short-term price dips.