Arthur Hayes Backs Hypercall as SYN Bets Target the Next $100B Crypto Options Market

Key Takeaways:

• Arthur Hayes revealed that he still sees upside in the Hyperliquid space and is searching for asymmetric opportunities.
• Hayes identified Hypercall, owned by SYN, as a potential challenger to Deribit in crypto options trading.
• The comments renewed attention on decentralized options infrastructure built on Hyperliquid.

User Score

8.7

    Follow us on Google NewsCrypto derivatives veteran Arthur Hayes is now back in the spotlight with the Hyperliquid ecosystem, with his sights also set on perpetual futures.

The BitMEX co-founder revealed that he’s still looking for opportunities to be involved with Hyperliquid, but he’s seeking more asymmetric ones. According to Hayes, Hypercall may become one of the projects capable of challenging the dominance of centralized options platforms.

Table of Contents

• Arthur Hayes Turns Attention to Hypercall
• Hyperliquid Expands Beyond Perpetual Trading
  • Options Trading Remains a Large Untapped Market
  • SYN Gains Attention From the Hypercall Narrative
  • Competition for Crypto Options Is Heating Up

Arthur Hayes Turns Attention to Hypercall

In a recent re-post on social media, Hayes stated he is bullish on Hyperliquid, but is looking to improve for better risk/reward. He cited the Hypercall decentralised options exchange backed by SYN, which, he added, could be a rival platform to Deribit.

The comments immediately attracted attention because Hayes has long been associated with crypto derivatives markets. His views on market structure and trading infrastructure are closely followed by traders and institutional investors.

Hayes didn’t even go so far as to mention spot tokens but instead told a few words about the need to develop a robust options market in the blockchain space.

Read More: Hyperliquid Addresses MAS Alert List Inclusion

## Hyperliquid Expands Beyond Perpetual Trading

Hyperliquid is indeed one the fastest-growing decentralized derivatives ecosystems in crypto

It has accomplished plenty of trading and become recognized to both retail and expert traders with its everlasting futures program. The options exchange market is fairly dominated by centralized exchanges, though.

Deribit remains the leader in crypto options trading volume with the bulk of volume occurring on Bitcoin and Ethereum options.

Options Trading Remains a Large Untapped Market

The crypto options sector processes tens of billions of dollars in monthly volume. Despite the growth of decentralized finance, very few decentralized options exchanges have managed to compete with established centralized platforms.

Hayes appears to believe that Hypercall could fill that gap by bringing options trading directly into the Hyperliquid ecosystem.

As traders look for better options than centralized trading floors, the concept of a decentralized settlement, onchain liquidity, and advanced derivatives products has gained more and more appeal.

Read More: Bitwise Hyperliquid ETF Targets $11B HYPE Market

SYN Gains Attention From the Hypercall Narrative

Hypercall is a property of SYN, a company that has attracted a lot of attention recently in the market with these properties.

Investing in infrastructure projects for increasing ecosystems is being seen as high-potential investment opportunities. Hayes said specifically that it required asymmetry, indicating he believes there may be more potential upside in developing apps rather than more mature assets.

Competition for Crypto Options Is Heating Up

Derivatives markets are continuing to get increasingly decentralized. After countries started to scrutinise offshore exchanges, several projects have been working on the creation of alternatives to centralised exchanges.

Should Hypercall succeed with this options offering, then it could help Hyperliquid differentiate and bolster its offering as a fuller derivatives experience instead of a product with so few perpetuals.