Optimism’s OP Token Jumps Ahead of a16z Project Announcement
Markets
Optimism’s OP token (OP) recovered from early Wednesday's broad market selloff amid news that venture capital firm Andreessen Horowitz (a16z) would plans to build a stack rollup – a type of scaling solution – on the layer-2 blockchain.
The token was trading at $2.66 midday Wednesday, a 5% bump up from its 24 hour lows. Most of the Wednesday rally immediately preceded a16z's announcement at 10:49 am ET. OP had already rallied Tuesday on trader speculation of an a16z deal before giving back its gains – and then some – alongside sizable declines in the broader cryptocurrency markets.
Read More: What Is Optimism?
Related news
Markets
Apr. 19, 2024
Crypto Markets Will Be Driven by Macro Factors Following the Halving, Coinbase Says
Crypto markets will be driven by macro factors in the short term, Coinbase said. Previous halvings were accompanied by other cryptocurrency ecosystem catalysts that acted as tailwinds. The growth of investors using bitcoin as a macro hedge has...
Markets
Apr. 19, 2024
First Mover Americas: Bitcoin Price Bounces as Halving Nears
This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin recov...
Markets
Apr. 19, 2024
Bitcoin Spot ETFs Register Five-Day Withdrawals Streak Ahead of Halving
The U.S. spot ETFs lost $4.3 million in outflows on Thursday, taking the five-day tally to over $319 million. GBTC again led the outflows, while inflows into BlackRock's IBIT continued to slow. The U.S.-based spot bitcoin {{BTC}} exchange-tra...
Markets
Apr. 19, 2024
Polymarket Traders See 32% Chance of No Fed Rate Cuts This Year
Traders on Polymarket now put the probability of the Fed holding rates steady in 2024 at 32%, compared to 7% in March. Traditional markets have scaled back expectations to two 25 basis points rate cuts from six in early January. The probabili...
Markets
Apr. 19, 2024
Bitcoin Dips Below $60K as Israel Launches Strike on Iran
{{BTC}} fell 5%, dipping below $60,000 before quickly recovering to about that level, as Israel hit back against Iran for a missile strike last week. ABC News first reported that Israel had launched a retaliatory strike against Iran Friday mor...
Markets
Apr. 18, 2024
Bitcoin Halving Is Not a Bullish Event, Says 10x Research Analyst
Bitcoin could drop to as low as $50,000 over the next few weeks as the macroeconomic uncertainty looms over the crypto market, said Markus Thielen, co-founder of 10x Research. Even the halving, which takes place on Saturday, might not drive the...
