Optimism’s OP Token Bounces After Andreessen Horowitz (a16z) Project Announcement

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.