TON, the native token of the Telegram-affiliated blockchain, rose 8.33% to $1.60 in the last 24 hours, driven by a combination of ecosystem milestones and growing support.
The move propelled TON past the $1.60 mark, boosted by increased volume and renewed market momentum, while outperforming the broader crypto market. Based on the performance of the CoinDesk 20 (CD20) index, the market is up around 4% over the same period.
The rally follows the release of TON’s October ecosystem overview, which highlighted key developments, including the launch of Confidential Compute Open Network (COCOON), a decentralized artificial intelligence network launched by Telegram founder Pavel Durov.
Integrated directly into Telegram, COCOON aims to connect financial applications and AI tools among the app’s 900 million users, positioning TON as a hub for AI-powered decentralized finance.
Other upgrades added custom fuel. TON now supports trading of tokenized US stocks via Telegram wallets, while Lamborghini debuted digital collectibles on the network.
Liquidity and institutional interest are also growing. TON was listed on Bitstamp, adding to previous support from Coinbase Ventures and Gemini. Chainlink adopted TON as a cross-chain standard, enabling easier data integration for applications built on the network.
TON’s leading DEX, STON.fi, reported rising TVL and volumes amid new yield farming programs.
From a technical point of view, TON confirmed a breakout of a double bottom pattern, with volume up 15% and RSI recovering from oversold levels according to CoinDesk Research’s technical analysis data model.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
