Toncoin Rises as Cocoon Launch Boosts Trading Activity

Toncoin (TON) gained 0.77% over 24 hours, reaching $1.5029, as trading activity surged following the launch of Cocoon, a decentralized AI compute platform built on The Open Network. Volume climbed to 2.95 million, a 37% increase above the weekly average, according to CoinDesk Research’s technical model.

Cocoon allows GPU owners to rent out computing power for AI inference tasks and earn TON tokens as compensation. Telegram, closely tied to the TON ecosystem, is the platform’s first user, with Cocoon now processing live requests.

Although TON’s gains lagged the broader CoinDesk 20 Index, which rose 1.47%, the spike in volume suggests institutional participants may be accumulating positions. Despite dipping to a session low of $1.4501, the token demonstrated resilience, closing above its open of $1.4914 and maintaining support near $1.45.

Price action has remained in a narrow range, indicating a consolidation phase. Key levels include support around $1.44 and resistance near $1.51. A sustained move above $1.51 could pave the way for a test of $1.53, highlighting growing market interest in TON as infrastructure for decentralized AI.