HYPE Accelerates Its Rise: Record Trading Volumes

The Rise of HYPE and the Effects of the New Integration

HYPE has recorded a strong rise with HIP-4, proposed by the team behind HyperCore, the core infrastructure supporting Hyperliquid's Layer-1 network, to expand into prediction markets. This situation has led to significant interest in HYPE among investors.

Hyperliquid and Prediction Markets

The new integration offered by Hyperliquid is defined as the largest decentralized perpetual crypto platform. Users gain the ability to trade fully collateralized contracts in political elections, sports, and other markets. According to CoinMarketCap data, HYPE has gained 18% in value in the last 24 hours, attracting the attention of investors.

User Demand and Future Developments

Hyperliquid stated in a recent post on the social media platform X that there is a strong user demand for prediction markets and limited option-like instruments. Additionally, it pointed out that HIP-4 would enable the development of more new applications on Hyperliquid. Thus, two popular use cases of crypto are coming together.

Perpetual Trading Volume

In the last 24 months, both on-chain perpetual transactions and blockchain-supported prediction markets have consistently reached hundreds of millions of dollars in daily trading volume. In particular, the perpetual trading volume slightly lost momentum after reaching a record level of $341.7 billion between November 3 and November 9, but has managed to stay above $200 billion in weekly trading volumes over the past four weeks.

Still, the information provided here is for informational purposes only and does not constitute investment advice.