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 rose to 2.95 million, marking a 37% increase from the weekly average, according to CoinDesk Research’s technical analysis data model.
The price action comes as Cocoon begins processing live user requests. The platform enables GPU owners to rent out computing power for AI inference tasks and receive TON tokens as compensation.
Telegram, which has deep ties to the TON ecosystem, serves as the first user of Cocoon’s AI infrastructure.
While TON’s gains trail broader crypto benchmarks and underperform the CoinDesk 20 (CD20) index, which rose 1.47% in the period, the increase in volume suggests that major market participants may be building positions.
Despite falling to a session low of $1.4501, the token showed strength throughout the period, closing well above its $1.4914 opening and holding key support levels around $1.45.
The price remained confined within a narrow range, indicating a consolidation phase. Still, the increased volume and ecosystem development point to growing interest in TON’s role as infrastructure for decentralized AI.
Support is also seen around $1.44, with resistance near $1.51. A sustained move above this level could set a test of $1.53 in the near term.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
