Hyperliquid (HYPE)  price continued its recent rally, hitting its highest level since November 20th as investors focused on the rising volume, network fees, and its entry into the fastest-growing prediction market. HYPE price jumped to $38, up by 85% from its lowest level this year. So, what next for the HYPE token?

Hyperliquid enters into the predictions market 

The HYPE token price jumped sharply after the developers announced the support of HIP-4 proposal, which introduces Outcomes, its foray into the predictions market industry.

The launch comes as the predictions industry continues booming, with companies like Kalshi and Polymarket being the market leaders.

In a statement, the developers said that the launch will bring non-linearity, dated contracts, and an alternative form of derivative trading that does not involve liquidations. Outcomes are now being tested in the testnet ahead of the eventual launch.