TON rose 0.77% in 24 hours to $1.5029 as trading activity intensified following the introduction of Cocoon, a decentralized AI computing platform built on The Open Network.
Volume skyrocketed to 2.95 million, up 37% from the weekly average, according to CoinDesk Research’s technical analysis data model.
The price action occurs as Cocoon begins processing live user requests. The platform allows GPU owners to rent computing power for AI inference tasks and receive TON tokens as compensation.
Telegram, which has deep ties to the TON ecosystem, is the first user of Cocoon’s AI infrastructure.
While TON’s gains lag broader crypto benchmarks, underperforming the CoinDesk 20 Index (CD20), which is up 1.47% in the period, the increase in volume suggests that large market participants may be building positions.
Despite drops to a session low of $1.4501, the token showed strength during the period, closing well above its open of $1.4914 and holding at the key support level around $1.45.
The price remained confined within a narrow range, suggesting a consolidation phase. Still, the high volume and ecosystem developments point to growing interest in TON’s role as an infrastructure for decentralized AI.
Support is also seen around $1.44, with resistance near $1.51. A sustained move above that level could test the $1.53 level in the near term.
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.
