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 similarity of the images led to trader speculation that a16z may have plans to launch its own layer 2 blockchain, sending the OP token about 3% higher.
But Eddy Lazzarin, the chief technology officer of a16z crypto, subsequently tweeted “not an L2,” apparently denying that possibility.
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.
Update (April 18, 2023, 21:23 UTC): Adds tweet from a16z CTO saying it's "not an L2."
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