TON rose 0.77% in 24 hours to $1.5029 as trading activity intensified following the introduction of Cocoon, a decentralized AI compute platform built on The Open Network.
Volume spiked to 2.95 million, marking a 37% increase over the weekly average, according to CoinDesk Research’s technical analysis data model.
The price action comes as Cocoon starts 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, is serving as the first user of Cocoon’s AI infrastructure.
While TON’s gains trail broader crypto benchmarks, underperforming the CoinDesk 20 (CD20) index, which rose by 1.47% in the period, the surge in volume suggests large market particpants may be building positions.
Despite dips to a session low of $1.4501, the token showed strength through the period, closing well above its open of $1.4914 and holding onto the key support level around $1.45.
The price remained confined within a narrow range, suggesting a consolidation phase. Still, the elevated volume and ecosystem developments 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 that level could set up a test of $1.53 in the near term.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Author: CD Analytics
