Why Is Open Campus (EDU) Price Pumping?

By CaptainAltcoin
about 2 months ago
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Open Campus (EDU), the utility and governing token of the world’s first Web3 education network, has seen its price surge by 15.3% and is trending on Binance. The coin has experienced a 70% increase over the last seven days, with a 24-hour low of $0.751 and a high of $0.9712.

Animoca Brands’ Plan to Purchase Additional EDU Tokens

Animoca Brands, a major investor in Open Campus alongside Binance Labs and Sequoia China, has revealed its plan to purchase additional EDU tokens through the open market.

This commitment demonstrates Animoca Brands’ confidence in supporting Open Campus and the EDU Foundation, particularly in the upcoming EDU Chain, which is set to be the first L3 blockchain designed for the global education market.

The education industry is expected to grow to an $8 trillion market by 2030, as highlighted in a June 2023 Morgan Stanley report. Animoca Brands’ increased stake in EDU tokens solidifies its position in this rapidly expanding sector.

TinyTap’s Involvement in Open Campus

TinyTap, a subsidiary of Animoca Brands, is one of the key participants in the Open Campus launch partners list. The company has united with others to work on the development of this project, with Yat Siu, the executive chairman and co-founder of Animoca Brands, and Yogev Shelly, the CEO of TinyTap, both participating as members of the EDU Foundation Council.

Animoca Brands’ latest purchase of more EDU tokens signifies a new level of support for the Open Campus initiative, revealing their prospects for what can be accomplished when blockchain technology is applied to the education sector with the intention of expanding the sector and increasing efficiency.

The Open Campus project aims to transform the education system through the use of blockchain technology, decentralizing and increasing its availability. EDU tokens enable governance and utility roles among participants in the ecosystem, further strengthening the project’s mission.

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Binance Launchpads and EDU’s Potential

According to analyst Burgerflipper, there have been only three Binance Launchpads incubated by Binance since 2023, despite weekly new Binance launchpools (farm and dump). The three projects, ID, ARKM, and EDU, have shown impressive fully diluted valuations (FDV), with ID at $325 million/1.5 billion FDV, ARKM at $500 million/2.5 billion FDV, and EDU at $200 million/800 million FDV.

The analyst also notes that CZ, the CEO of Binance, is doing something with education, further highlighting the potential of the Open Campus project and its EDU token.

With the education industry projected to grow to an $8 trillion market by 2030, the potential for EDU and the Open Campus project is undeniable.

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The post Why Is Open Campus (EDU) Price Pumping? appeared first on CaptainAltcoin.

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