SYN has crashed over 65% from its June peak, leaving Arthur Hayes down around $610,000 as technicals warn of a drop toward $0.175.
Subtitle: Arthur Hayes' SYN purchase fuels strong trader interest as derivatives volume and open interest jump.
Synapse (SYN) has suddenly become one of the market's hottest altcoins after delivering a massive 40% rally in the past 24 hours. The sharp uptick comes after BitMEX co-founder Arthur Hayes reportedly accumulated 6.16 million SYN tokens worth nearly $2.2 million, reigniting bullish sentiment around it.
Traders appear to be looking past Synapse's quieter bridge metrics and focusing instead on its pivot toward newer interoperability products such as Hypercall.
SYN price outruns Synapse's on-chain earnings.
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.
Arthur Hayes' endorsement highlights the influential power of crypto leaders, potentially driving market volatility and investor interest in DeFi. Synthetix token SYN surges 41% after Arthur Hayes endorsement.
Arthur Hayes has revealed a $2.2 million investment in Synapse's SYN token after backing its Hypercall options DEX, helping drive the token as much as 26% higher on Monday.
BitMEX co-founder Arthur Hayes has bought about $2.2 million of synapse (SYN), throwing his weight behind an onchain options exchange he says could take on Deribit within the Hyperliquid ecosystem. A $2.