The native altcoin of a decentralized education platform experienced a remarkable surge of over 117% this week following the announcement that a web3 company intends to acquire the token. EDU, the governance and utility asset of Open Campus, is currently trading at $1.10, a significant increase from its low of $0.505 in the past seven days. This cryptocurrency, ranked 252nd, has also seen a rise of more than 12% in the last 24 hours. Open Campus aims to create an ecosystem that connects learners, educators, content creators, and educational institutions, as outlined in their whitepaper. The EDU Chain, described as the first layer-3 blockchain designed for education, is a key component of this project.

The surge in EDU’s price can be attributed to the announcement made by Animoca Brands, a web3 and blockchain gaming firm, stating their plan to acquire more EDU tokens through the open market. Animoca firmly supports the initiatives of Open Campus and the EDU Foundation, particularly the upcoming EDU Chain. This blockchain, specifically tailored for the global education industry, is projected to reach a value of $8 trillion by 2030.

Open Campus has also revealed plans to sell principal nodes for the EDU Chain, with the dates of the sales set to be announced next month. Principal node operators will be rewarded for validating transactions on the EDU Chain.

Despite the price gains witnessed this week, EDU is still more than 34% below its all-time high of $1.67, reached in April 2023, according to CoinGecko.

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