Decentralized Education Altcoin Surges by 117% This Week Amid Node Sale and Purchase Announcement From Web3 Firm

On May 26, 2024

The native altcoin of a decentralized education platform surged by over 117% this week amid news that a web3 firm has plans to purchase the token.

Open Campus’ governance and utility asset, EDU, is trading at $1.10 at time of writing, up from its seven-day low of $0.505.

The 252nd-ranked crypto asset is also up more than 12% in the past 24 hours.

Open Campus aims to foster an ecosystem that “connects learners, educators, content creators and educational institutions,” according to the project’s whitepaper. The EDU Chain bills itself as the “first layer-3 blockchain built for education.”

EDU’s price surge materialized as Animoca Brands, a web3 and blockchain gaming firm, announced a plan to acquire more EDU tokens on the open market.

Explains Animoca,

“Animoca Brands firmly supports the work of Open Campus and the EDU Foundation, including in particular the upcoming EDU Chain, the first layer-3 (L3) blockchain specifically designed to serve the global education industry, which is estimated to grow to $8 trillion in value by 2030.”

Open Campus also announced the upcoming sale of principal nodes for the EDU Chain. Principal node operators earn rewards by validating transactions on the EDU Chain.

The sales dates will be revealed next month, according to the project.

Despite its price gains this week, EDU remains more than 34% down from its all-time high of $1.67, which it hit in April 2023, according to CoinGecko.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Credit: Source link