OP jumps 3% after VC firm a16z posts cryptic tweet

Optimism’s blockchain-native token OP rose after an engineer in the crypto division of venture capital firm Andreessen Horowitz (a16z) tweeted a photo of an orange circle with the words “coming soon.”

The color of the circle in the tweet matches the color usually associated with the a16z logo. Earlier this year, Coinbase teased the launch of its Optimism-powered layer 2 network, called Base, by tweeting out a blue circle.

The similarity of the images led traders to speculate that a16z may be planning to launch its own blockchain layer, pushing the OP token price up about 3% before retracing.

Source: TradingView

But Eddy Lazzarin, CTO of a16z crypto, later tweeted “not L2,” seemingly denying that possibility.

In March 2022, A16z and Paradigm co-led Optimism’s $150 million funding round, valuing the Ethereum scaling solution at $1.65 billion.


According to Coindesk

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