Hyperliquid's HIP-4 prediction market flops: volume just 0.07% of Polymarket's
- —HIP-4's five-month cumulative volume of $317 million is less than four hours of Kalshi trading
- —In September HIP-4 traded about $0.70 for every $1,000 on Kalshi and Polymarket
- —The football World Cup drove 28% of all HIP-4 volume; activity fell over 80% after it ended
- —The daily bitcoin market is down 93% from its May peak, with protocol fees near $1,300 a day
Why it matters: The case shows that elegant design without liquidity and users does not build a market — a warning for projects betting on prediction markets.
Source: 動區 BlockTempo