Optimism (OP) is struggling to make a comeback above key resistance at $2.969 despite reports that venture capital firm a16z scooped up $90 million in OP tokens in a private sale.
Venture capital firm a16z has purchased $90 million in OP tokens under a two-year vesting period, Unchained crypto reports. Sources told Unchained Crypto that Optimism has done well and the project is still doing airdrops. OP price is hovering around $2.50 early on Wednesday, shedding almost 4% despite the news. Optimism is struggling to make a comeback above key resistance at $2.969 despite reports that venture capital firm a16z scooped up $90 million in OP tokens in a private sale.
It is typical of purchases with a vesting period to be discounted relative to an asset’s market price. OP price is $2.502 on Binance early on Wednesday, falling 3.8% on the day. OP holders are likely still digesting the news of the private sale and Optimism is yet to see an impact on its price. Optimism and a16z didn’t immediately respond to FXStreet’s request for comments about the reports.
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