Optimism’s OP Token Rallies After Cryptic Tweet From A16Z Engineer

The native token of the Optimism blockchain, OP, rallied after an engineer at the crypto arm of venture capital firm Andreessen Horowitz (a16z) tweeted out a picture of an orange circle, accompanied by “coming soon.”

The color of the circle in the tweet matched that commonly associated with the a16z logo. Earlier this year, Coinbase teased the impending announcement of its Optimism-backed layer 2 network – called Base – by first tweeting out a blue circle.

The similarity of the images led to trader speculation that a16z may have plans to launch its own layer 2 blockchain, sending the OP token 3% higher.

A short time later, a16z Chief Technology Officer Eddy Lazzarin tweeted out that the orange circle did not refer to an L2.

A16z and Paradigm co-led a $150 million funding round for Optimism in March 2022, which valued the Ethereum scaling solution at $1.65 billion.

A16z declined to comment on the speculation when contacted by CoinDesk.

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