Synapse (SYN) token surged 13% recently, driven by large purchases from prominent investors like Arthur Hayes and interest in its options platform, Hypercall. Hayes views SYN as undervalued compared to traditional options markets, fueling bullish sentiment. However, the protocol behind SYN generates very little revenue, raising concerns that the rally is based more on hype and positioning than fundamental earnings. Traders remain divided, with some betting against the rally despite growing demand in spot markets.
Arthur Hayes, co-founder of BitMEX, purchased $2.2 million worth of Synthetix (SYN) tokens via an OTC deal before publicly endorsing Hypercall, a decentralized options exchange built on the Synapse Protocol. Following his endorsement, SYN’s price sur...
Arthur Hayes, co-founder of BitMEX, revealed a $2.2 million purchase of Synapse's SYN token following his endorsement of Hypercall, an options decentralized exchange (DEX) built on Hyperliquid. Hayes sees Hypercall as a strong challenger to establish...
Arthur Hayes, co-founder of BitMEX, purchased about $2.2 million worth of SYN tokens to support Hypercall, an onchain options platform built on the Hyperliquid network. He views Hypercall as a potential challenger to Deribit, the dominant crypto opti...
This week, major cryptocurrencies like Bitcoin and Ethereum remained weak due to ongoing macroeconomic uncertainty, while some low-cap altcoins saw significant gains. Velvet (VELVET) led with a 235% rally nearing its all-time high, supported by stron...
