TL;DR:
- BitMEX co-founder Arthur Hayes acquired 6.16 million SYN tokens on June 29, 2026, through the firm Flowdesk.
- The market capitalization of the Synapse protocol advanced toward a range between 55 and 60 million dollars during the month of June.
- The daily trading volume of the SYN token exceeded 95 million dollars following the investor’s public statements.
This Monday, the co-founder of the derivatives exchange BitMEX, Arthur Hayes, has made a $2.2 million investment in the synapse (SYN) token. With this acquisition, he aims to boost the development of Hypercall, a decentralized options protocol operated within the Hyperliquid network.
I still want to be long the Hyperliquid ecosystem but I need some asymmetry. It’s time for an options dex to properly take on Deribit. Hypercall, owned by $SYN, is that challenger. Let’s see if they can cook. pic.twitter.com/v6crnHjS4G
— Arthur Hayes (@CryptoHayes) June 29, 2026
It was a direct transaction through the over-the-counter (OTC) trading services provided by the firm Flowdesk. According to statements published by Hayes on his X account, the capital movement responds to a strategy seeking asymmetric exposure within the HyperEVM smart layer. Historical data indicates that the SYN token experienced a price increase of over ten times its previous value throughout the month of June.
Technical challenge to Deribit’s leadership
The global cryptocurrency options market maintains a centralized structure where the institutional platform Deribit concentrates the largest trading volume internationally. The development of decentralized alternatives (DEX) in this sector has historically faced infrastructure technical complexities, unlike the progress achieved in traditional perpetual contracts and spot trading markets.
The Hypercall protocol operates under a model that allows continuous options trading 24 hours a day. The platform’s records specify that the financial risk assumed by individual traders is strictly limited to the amount of the premium paid in each transaction.
A market report indicates that the liquidity injected by the businessman drove Synapse’s daily volume above $95 million at the close of the trading session. Data from the same firm suggests that this type of public backing by high-profile figures tends to generate short-term price volatility on spot exchanges. The document underscores the need to observe whether organic volume and open interest will consistently accompany this increase in the digital asset’s valuation.
The sustainability of the project directly depends on the effective migration of users to decentralized environments. The platform’s final operational volume will determine its capacity to compete with traditional corporate structures. The Hypercall development community is maintaining its technical roadmap for the coming months to consolidate the stability of its on-chain order book.
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