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

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.