The native cryptocurrency of a decentralized education platform experienced a significant surge of over 117% this week following the announcement that a web3 company plans to acquire the token. The governance and utility asset of Open Campus, known as EDU, is currently trading at $1.10, a substantial increase from its lowest point of $0.505 in the past seven days. In the last 24 hours alone, this crypto asset has also risen by more than 12%.

Open Campus aims to create an ecosystem that connects learners, educators, content creators, and educational institutions, as stated in their whitepaper. The EDU Chain, which is described as the “first layer-3 blockchain built for education,” is a key component of this project.

The surge in the price of EDU occurred after Animoca Brands, a web3 and blockchain gaming company, announced its intention to purchase more EDU tokens on the open market. Animoca Brands expressed its strong support for Open Campus and the EDU Foundation, particularly highlighting the significance of the upcoming EDU Chain. This blockchain, designed specifically for the global education industry, is predicted to reach a value of $8 trillion by 2030.

Additionally, Open Campus shared news of the upcoming sale of principal nodes for the EDU Chain. These node operators will be rewarded for validating transactions on the blockchain. The dates for the sales will be disclosed next month, according to the project.

Despite the recent price surge, EDU is still more than 34% below its all-time high of $1.67, which was reached in April 2023, according to CoinGecko.

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