Hyperliquid Launches Prediction Markets on Testnet

Decentralized exchange Hyperliquid just launched its HIP 4 update on the testnet. This change allows developers to create and deploy their own prediction markets without needing permission from the platform team. It is a significant move for the exchange as it aims to expand the types of products available to users.

This update arrives at a difficult moment for the platform native token, HYPE. The price has been under heavy selling pressure recently and has dipped below the $55 mark. Traders are keeping a close eye on the chart to see if the token can find support after this recent decline.

While the technology update aims to grow the ecosystem, the market response remains cautious. Investors will be watching to see if the new prediction markets can attract enough activity to boost interest in the protocol. For now, the focus is on how smoothly the testnet rollout goes before a full launch.