Ethereum L2 Protocol Optimism Raises $150M with $1.65B Valuation

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Today’s Cryptocurrency Headline

The Ethereum L2 protocol Optimism has completed a $150 million Series B financing at a valuation of $1.65 billion. This round of financing was led by a16z and Paradigm, and the financing will be used for team expansion. According to the official information of Optimism, since the mainnet went online, it has saved users $1 billion in gas fees and deployed thousands of smart contracts. In an interview with TechCrunch, Optimism CEO Jinglan Wang said that Optimism does not profit from operating the centralized part of the system, but while earning revenue, returns all revenue to fund Ethereum’s public goods.

BingX’s Bitcoin Chart

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BTC is trading above the $40,000 price level for a second consecutive session and has risen to an intraday high of $41,478. In addition, the price broke above the 20-day exponential moving average (EMA) ($39,997) once again and is currently approaching the 200-day EMA ($44,779), which is the next significant resistance. If the bulls are able to maintain the price above the 20-day EMA, we can expect a further upward move to the resistance at $44,779 next week.

 

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