Hyperliquid announced the official launch of HIP-4 on the testnet on March 11, introducing the first batch of cyclical binary options markets based on HyperCore's spot prices. The contract is fully collateralized, featuring nonlinear payoffs and expiration characteristics. Future plans include launching one-day expiration markets for BTC and HYPE, as well as multi-outcome markets. The network upgrade will expand the scope of portfolio margin applicability and set limits on the supply and lending of USDH.

The worsening situation in the Middle East has caused significant fluctuations in the global energy markets, with crude oil prices soaring by 30% at one point. The crypto market was affected, with the Hyperliquid platform experiencing liquidations of nearly $40 million, resulting in severe losses for short positions. The escalation of geopolitical risks in the Middle East and conflicts between Iran and Israel are the main reasons, while traditional energy markets also reached historic highs.

On February 3rd, the decentralized derivatives platform Hyperliquid announced the launch of the "Outcome Trading" feature on its testnet, introducing a full-margin contract model for prediction markets and event trading. This feature is based on Hyperliquid's improvement proposal HIP-4, allowing users to trade contracts linked to real-world outcomes within a fixed price range, with automatic settlement after the event concludes. "Outcome Trading" mainly targets uncertain events such as elections, sports competitions, and macroeconomic data. Unlike traditional crypto derivatives, these contracts do not use leverage; traders must fully fund their positions, thereby avoiding systemic risks caused by forced liquidations and chain reactions of margin calls. The platform states that this design makes event trading more transparent and better suited for users looking to avoid high-leverage volatility.

Hyperliquid announces the launch of "Outcome Contracts" trading in HIP-4, a fully collateralized contract suitable for prediction markets and range-limited option-like tools. Outcome Contracts introduce a nonlinear payoff structure, avoiding leverage and liquidation, expanding the capabilities of HyperCore. Currently in testing on the testnet, they will be launched as standardized markets in the future.

Hyperliquid announced on the X platform that HyperCore will support "Outcome Trading," a fully collateralized contract suitable for prediction markets and options-like instruments. This trading format requires no leverage or liquidation and will be developed on the testnet. Standardized markets will be gradually opened and priced in USDH upon completion.

On January 30, news broke that Circle (CRCL) stock was upgraded by analysts for the second time in a week, and this time, the shift was made by Wall Street insiders who were previously the most bearish on the stock. Compass Point analyst Ed Engel upgraded Circle's rating from 'Sell' to 'Neutral' and set a target price of $60, down from the previous $75, reflecting that the market has partially digested the company's risks. On the same day, Circle's stock closed at $67.55, down 7.3% at one point during the trading session, and slightly rebounded after hours. Notably, just the day before, Mizuho Securities' Dan Dolev also revised his previously bearish stance. The consecutive 'turnarounds' by two long-term bears have caused a subtle shift in market sentiment.

BlockBeats News, December 12 — Hyperliquid officially announced that the upcoming network upgrade will introduce a Portfolio Margin feature, which has already been launched in pre-alpha mode on the testnet. Under the Portfolio Margin mode, the margin for users' spot and perpetual contract trading will be fully unified, significantly improving capital efficiency. Additionally, the Portfolio Margin account will automatically generate yields on all lendable assets that are not actively used for trading. All HIP-3 DEXes are included in the Portfolio Margin calculation, but not all collateral assets on HIP-3 DEXes are lendable. In the future

Golden Finance reports that Native Markets, which won the USDH issuance bid, has announced that USDH has been upgraded to an aligned quote asset. Users trading with USDH enjoy low fees and high rebates, and the volume can also increase the rate tier.

On September 29, it was reported that Native Markets, the winner of the Hyperliquid stablecoin USDH issuance bid, announced on the X platform that HypurrFi has now become a HyperEVM lending market supporting USDH. It is reported that the lending cap is set at 3 million coins, and the supply cap is set at 5 million coins, to form and support Liquidity.