Hyperliquid's Permissionless Prediction Markets Go Live

Hyperliquid's HIP-4 upgrade has gone live, enabling permissionless prediction pairs and attracting the first third-party deployers to launch new markets. This protocol update and rising on-chain activity suggest increased DeFi adoption and potential token/market upside for Hyperliquid.

The upgrade allows users to create their own prediction pairs, drawing in competition from deployers who are already launching new markets. The 24-hour spot volume of $37.17B is a significant increase of +59.1%.

The Market Cap of the currencies, at $2.74T, shows a decrease of -0.45%. This indicates that while Hyperliquid's update may be driving growth in specific markets, it is not yet affecting the broader market capitalization.