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Hyper Diamond Lvl4 is obtainable from the Jewelry Store Robbery, in order to get a lvl4 one, you need to have a lvl3 hyperchrome in your inventory.
Diamond LVL4 hasn't been improving recently, however it simply performs a lot better than the average demand would make it seem. It has little to no issues getting Drip (with some owners even declining Drip for theirs), or Power1 with only ~2.5M in adds, which is impressively good for an average demanded item. As a result of this, a small demand change to above average is being implemented for it.
Supply is widely distributed — no single holder owns enough to register as a hoarder.