Andreessen Horowitz (a16z), a prominent venture capital company in Silicon Valley, closely monitors the cryptocurrency space. Recently, a16z made a significant investment in an altcoin based on Ethereum (ETH). According to reports from Unchained, a16z acquired Optimism (OP) tokens valued at around $90 million.

The news of this investment shed light on the Optimism Foundation’s announcement in early March that they had sold approximately 19.5 million OP tokens for about $90 million. Despite not providing a statement about the OP investment, a spokesperson for Optimism expressed excitement about the progress and momentum the project has achieved.

While OP experienced a 13% increase in the last 24 hours, its current trading price stands at $2.64. It’s important to note that this information is not investment advice. Stay updated with the latest news, analytics, and on-chain data by following our Telegram and Twitter accounts now.