Toncoin Gains on Cocoon Launch, Trading Volume Surges
Toncoin (TON) climbed 0.77% to $1.5029 as trading activity accelerated following the launch of Cocoon, a decentralized AI compute platform built on The Open Network. Volume jumped to 2.95 million, up 37% from the weekly average, according to CoinDesk Research’s technical model.
Cocoon enables GPU owners to rent computing power for AI tasks in exchange for TON tokens. Telegram, closely linked to the TON ecosystem, is the platform’s first live user, with Cocoon now processing active requests.
While TON’s gains lagged the CoinDesk 20 Index, which rose 1.47%, the volume surge points to potential accumulation by large market participants. The token dipped to $1.4501 but recovered to close above $1.4914, holding support near $1.45.
Price has traded in a tight range, signaling consolidation. Support is at $1.44, with resistance near $1.51. A break above $1.51 could set the stage for a test of $1.53, reflecting growing interest in TON as infrastructure for decentralized AI.
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