Optimism’s OP Token Jumps Ahead of a16z Project Announcement

Optimism’s OP token (OP) recovered from early Wednesday’s broad market selloff amid news that venture capital firm Andreessen Horowitz (a16z) would plans to build a stack rollup – a type of scaling solution – on the layer-2 blockchain.

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The token was trading at $2.66 midday Wednesday, a 5% bump up from its 24 hour lows. Most of the Wednesday rally immediately preceded a16z’s announcement at 10:49 am ET. OP had already rallied Tuesday on trader speculation of an a16z deal before giving back its gains – and then some – alongside sizable declines in the broader cryptocurrency markets.

Edited by Stephen Alpher.
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