Open Campus (EDU) Surge 35% As Animoca Brands Set to Buy More

22 May

Crypto venture capital firm Animoca Brands plans to acquire more EDU tokens from the open market, causing Open Campus (EDU) to soar by over 30%. The Hong Kong-based firm, known for its blockchain games like The Sandbox and Eden Games, aims to support the EDU Chain, a layer-3 blockchain solution designed to serve the global education industry. The EDU price soared to $0.8, gaining around 35% in a moment.

Animoca Brands and its subsidiary, TinyTap, are launch partners of Open Campus, with Yat Siu, Animoca Brands' executive chairman and co-founder, and Yogev Shelly, TinyTap's CEO, serving as members of the EDU Foundation Council. Open Campus, founded in 2022, is a blockchain-based foundation aimed at bringing together educators, content developers, parents, and students. In November 2023, the project raised over $3 million from Binance Labs and received strong backing from Binance, with over 9 million Binance Coin (BNB) pledged by 120,000 users.

Technical Outlook
Open Campus (EDU) token is up 20.21% as of the time of writing trading above the 200-day Moving Average (MA). EDU is moving with a Relative Strength Index (RSI) of 73.94 which is clearly overbought. The token has been in a consolidation zone for over 4 weeks now gathering momentum for further growth in the long term.