Optimism’s OP token recovered from the early Wednesday market sell-off. This was due to news that venture capital firm Andreessen Horowitz (also known as a16z) plans on building a “stack rollup” – a kind of scaling product – on the blockchain.

Midday on Wednesday, the token traded at $2.66. This was a 5% increase from its previous 24-hour low. The majority of Wednesday’s rally occurred immediately before Andreessen Horowitz announced at 10:49am ET. OP rallied on Tuesday due to traders’ speculation about an a16z agreement before giving up its gains – and more – along with significant declines across the broader cryptocurrency market.

Read more: What is optimism?

Stephen Alpher edited the book.