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.”
coming soon pic.twitter.com/8kADUuervL
— ncitron.eth (@NoahCitron) April 18, 2023
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.
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.
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According to Coindesk