Optimism’s OP token recovered from early Wednesday‘s broad market sell-off amid news that venture-capital firm Andreessen Horowitz, which is also known as a16z, plans to build a "stack rollup" – a type of scaling product – on the blockchain.
The token was trading at $2.66 midday Wednesday, a 5 bump up from its 24-hour low. Most of the Wednesday rally immediately preceded Andreessen Horowitz‘s announcement at 10:49 am ET. OP had already rallied Tuesday on traders‘ 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.
