The venture capital firm a16z has invested $90 million in Optimism’s OP token, deepening its interest in the Ethereum Layer 2 environment. Optimism, known for its robust performance and ongoing airdrops, continues to attract significant attention in the crypto sphere.
An Optimism spokesperson expressed excitement about the platform’s current momentum and future developments. Notably, Celo blockchain developers adopted Optimism’s technology to launch its Layer 2 solutions, underscoring its growing influence.
Over the last day, Optimism’s OP token increased by 11.01% to $2.72, while trading volume soared to about $623.98 million, marking a 44.94% increase. OP’s market cap has grown to roughly $2.84 billion.
This move aligns with a16z’s overall strategy in the cryptocurrency market, which includes previous investments like in Coinbase. One source reported earlier this year that the Optimism Foundation had recently made a large sale of OP tokens, highlighting the exchange activity and strategic governance work around Optimism’s offerings.
