TON increased by 0.77% over the last 24 hours, reaching $1.5029 as trading activity surged after the launch of Cocoon, a decentralized AI compute platform on The Open Network.
Trading volume jumped to 2.95 million, reflecting a 37% rise from the weekly average, as indicated by CoinDesk Research’s technical analysis data model.
The price movement aligns with Cocoon’s initiation of real-time user requests. This platform allows GPU owners to lease computing power for AI inference tasks, earning TON tokens in return.
Telegram, closely connected to the TON ecosystem, is the inaugural user of Cocoon’s AI infrastructure.
Although TON’s performance lags behind broader crypto metrics, underperforming the CoinDesk 20 (CD20) index—which increased by 1.47% during the same period—the spike in trading volume indicates that significant market players might be accumulating holdings.
Despite a dip to a session low of $1.4501, the token displayed resilience, closing substantially above its opening price of $1.4914 and maintaining the crucial support around $1.45.
The price remained within a constrained range, indicating a phase of consolidation. Nevertheless, the heightened volume and ecosystem advances suggest an increasing interest in TON’s potential as infrastructure for decentralized AI.
Support is anticipated around $1.44, while resistance lies near $1.51. A prolonged movement above this level could trigger a test of $1.53 in the near future.
Disclaimer: Portions of this article were produced with the aid of AI tools and reviewed by our editorial team to ensure precision and compliance with our standards. For further details, please refer to CoinDesk’s complete AI Policy.
