Hyperliquid launches HIP-4 event contracts, entering the prediction market with 6.05M contracts traded on day one.

Hyperliquid has launched its HIP-4 event contracts, marking its entry into the prediction market with 6.05 million contracts traded on the first day, capturing about 0.7% of the market share. The HYPE token is trading near $41.64, consolidating below resistance levels of $42.50 to $44.00, with mixed technical signals showing mild bullish momentum but some bearish pressure. Hyperliquid operates a layer-1 blockchain focused on high-frequency trading, offering perpetual futures, spot trading, lending, and borrowing, with part of trading fees used to buy back and burn HYPE tokens, linking exchange activity to token value. The launch adds a new product to Hyperliquid's ecosystem and positions it as a notable player in the prediction market space.