Hyperliquid HIP-4 test network is officially launched, HYPE tests US$53 support level

Hyperliquid HIP-4 expands license-free testnet market

Whale transfers increase, HYPE prices remain in the US$52 to US$54 range

Hyperliquid HIP-4 now allows testnet developers to deploy a standardized results market after pledging 100 HYPEs without having to auction or pay Gas fees.

HYPE prices fell below $55 and tested the support area of $52 to $54 as lower highs, lower lows and whale transfers increased market concerns about selling pressure.

Hyperliquid destroyed approximately 26,080 HYPEs (worth nearly US$1.43 million) in 24 hours, while the agreement cost reached approximately US$1.47 million.

The preliminary mainnet model still recommends a pledge requirement of 500,000 HYPE, a six-month lock-up period, a validator penalty mechanism, and an approved market creation template.

Hyperliquid HIP-4 extends license-free testnet marketplaces

Hyperliquid HIP-4 has entered a new testnet phase that allows developers to deploy results markets through approved templates. This release extends Hyperliquid's predictive markets framework beyond contracts created by validators, while maintaining standardization of settlement rules. Developers currently need to pledge 100 HYPEs to register as deployers and launch the market without having to auction or pay Gas fees.

This update comes as HYPE prices are trading around $53.50 after falling below the $55 mark. The transfer of large numbers of tokens to institutional trading platforms has also raised supply concerns. Meanwhile, Hyperliquid destroyed approximately 26,080 HYPEs in the past day. During the reporting period, the agreement fee reached approximately US$1.47 million, supporting its continued repurchase and destruction mechanism.

Hyperliquid Price (HYPE/USD)

Hyperliquid HIP-4 extends the license-free testnet marketplace

Hyperliquid HIP-4 allows registered builders to select a template approved by the validator, and then define the underlying asset, target level and expiration date. Each template has fixed key wording, direction names, and keywords. This structure reduces duplicate markets caused by slight differences in language or settlement conditions.

The current testnet limits each deployer to a maximum of 10 active results and 50 deployments per day. Hyperliquid plans to add configurable fees and additional templates after developers test market creation and settlement. Its updated documentation now exposes result metadata through a testnet-only application programming interface (API).

The HIP-4 outcome contract originally introduced by Hyperliquid is a fully collateralized product that is settled within a fixed range. They do not use leverage or clearing. The original contract focused on repetitive binary results related to HyperCore markup prices.

This broader range of permission-free designs follows a preliminary framework released July 20. Hyperliquid proposes that main-network deployers pledge 500,000 HYPEs, set a six-month lock-up period, and a validator controlled penalty mechanism. The validator can punish ill-defined markets, wrong settlements, or contracts that are not settled for more than a week. These mainnet terms are still preliminary and differ from lower testnet requirements.

Activity for HIP-4 remains low after demand for sports-related contracts fell due to post-World Cup. Market data showed open interest at close to US$182,000, with nominal trading volume of approximately US$881,000. Creating mechanisms that do not require permission may expand listings to include economic data, elections, cryptocurrency prices and other measurable events.

Whale transfers increased and HYPE prices remained in the US$52 to US$54 range

At the same time, HYPE prices formed lower highs and lower lows after retreating from the US$60 zone. The token is trading at approximately $53.50, putting pressure on the support range of $52 to $54. The region also coincides with the swing lows in June.

A four-hour close below $52 would weaken the current structure. Failure to recover this level could expose a range of $48 to $50. Further sell-off could redirect attention back to the previous $44 to $46 demand area. However, a rebound above $58 to $60 and a higher low will relieve recent downward pressure.

Large-scale transfers complicate the short-term trend of HYPE prices. Lookonchain previously recorded capital flows related to institutional delegating and trading platforms in July, including deposits to Coinbase Prime. The tracker also reported that a total of 1.96 million HYPEs were unpledged in three Multicoin Capital wallets. Multicoin later said some of its activity was driven by wallet rotations rather than sales.

Hyperliquid Daily Updates

Hyperliquid destroyed 26.08K HYPEs (approximately US$1.43 million) in the past 24 hours. During the same period, the agreement incurred costs of $1.47 million.

Total historical destruction: 46.16M HYPE units (approximately US$2.47 billion), accounting for 4.62% of the maximum supply of 1 billion units.

Other wallet activities include HYPE deposits to FalconX and Coinbase Prime. Transfers to brokers or escrow platforms may be used to support over-the-counter transaction execution, asset rotation or sales. The sale cannot be confirmed based on blockchain capital flows alone.

Hyperliquid's fee system continues to remove tokens from circulation supplies. A tracker read the deal's aid fund address on July 27. Data shows that there are approximately 46.05 million HYPEs in the destruction site. This balance accounted for approximately 4.6% of the original maximum supply of 1 billion tokens.

The latest reported daily destruction volume increased by approximately 26,080 HYPEs, valued at approximately US$1.43 million at recorded prices. During the same period, the agreement cost reached approximately $1.47 million. Destruction reduces supply, while whale transfers increase potential supplies that could be used for agency execution. Mainnet still lacks an exact launch date, making broader developer participation dependent on future testnet results and validator feedback.