Key facts
- Arthur Hayes endorsed Synapse Protocol's Hypercall DEX.
- Synapse Hypercall is positioned as a competitor to Deribit.
- Arthur Hayes purchased SYN tokens.
- The SYN token gained 26% in value.
- Arthur Hayes is the co-founder of BitMEX.
Arthur Hayes, co-founder of BitMEX, has thrown his support behind Synapse Protocol's Hypercall, a decentralized exchange (DEX) focused on options trading. Hayes has positioned Hypercall as a direct competitor to the established options exchange, Deribit. This endorsement comes after Hayes made a significant purchase of SYN tokens, the native cryptocurrency of the Synapse Protocol. The market has responded positively to Hayes's backing, with the SYN token experiencing a substantial price increase of 26%. This surge indicates investor confidence in Synapse Protocol and its Hypercall platform, driven by the influence of a prominent figure in the cryptocurrency derivatives space. The development suggests a growing competitive landscape within the decentralized options trading market, with Synapse Protocol aiming to capture market share from incumbents like Deribit.