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.
As traders chase momentum and smart money enters the market, investors are now asking whether Synapse could become the next major winner of this cycle.
Arthur Hayes’ $2.2M Bet Sparks Buying Frenzy
Market sentiment shifted rapidly after blockchain tracking accounts revealed that Arthur Hayes purchased approximately 6.16 million SYN tokens. According to market data, Hayes accumulated the position despite the token already posting significant gains during June. The veteran trader later emphasized his bullish outlook on the Hyperliquid ecosystem, describing Hypercall, a project backed by Synapse, as a potential challenger to established options exchanges.
🚨ARTHUR HAYES BUYS $2.2M $SYN!
Arthur Hayes bought 6.16M tokens right after $SYN already surged 10x+ in June, according to Lookonchain.
In his follow-up post, he says he wants asymmetry in the Hyperliquid ecosystem and sees Hypercall (owned by $SYN) as the options DEX… pic.twitter.com/EgvDRoAboH
— Crypto Banter (@crypto_banter) June 29, 2026
The investment immediately attracted retail and institutional attention. Historically, Arthur Hayes’ investments often become closely watched by traders searching for emerging narratives. His latest bet has placed Synapse directly into the spotlight.
Futures Market Activity Explodes as Bulls Return
The spot rally has been supported by a sharp increase in derivatives activity. CoinGlass data shows SYN futures volume surged above $563 million during the past 24 hours, while open interest climbed roughly 80% to over $63 million.
Such growth typically indicates fresh capital entering the market rather than simple short covering. Positive funding rates further suggest that traders continue building long positions as bullish sentiment strengthens. The combination of rising price, growing open interest, and expanding volume often acts as a strong confirmation signal during major breakouts.
SYN Price Prediction: Can Synapse Price Reach $1?
SYN has delivered one of its strongest weekly breakouts in recent months. The token successfully broke above a long-standing descending trendline that had capped prices since 2024. The breakout occurred alongside the highest trading volume seen in months, adding confidence to the bullish structure. After spending several months consolidating between $0.14 and $0.20, buyers aggressively pushed the token above $0.55.
If the breakout remains intact, the next major resistance zone sits near $1.00, followed by the larger resistance area around $1.40. A sustained move above these levels could trigger another phase of price discovery.SYN now sits at a critical point after confirming a major technical breakout and attracting strong speculative interest.
The combination of Arthur Hayes’ $2.2 million investment, rising derivatives activity, and improving market sentiment has significantly strengthened the token’s outlook. If buying momentum continues, SYN could target the psychological $1 level in the coming weeks, representing another substantial upside move from current prices. However, after a 40% rally, traders should also expect short-term profit-taking and volatility.
Hyperliquid Ecosystem Narrative Gains Strength
Beyond the Arthur Hayes purchase, investors are increasingly focusing on the broader Hyperliquid ecosystem. Several market participants believe projects connected to the rapidly expanding derivatives ecosystem could attract fresh capital during the next market rotation. Hayes himself highlighted the opportunity for decentralized options products, which has further strengthened the investment narrative surrounding SYN. As institutional traders continue exploring alternative trading ecosystems, projects offering real utility and growing adoption may remain in focus.