With the launch of Cocoon, a decentralized artificial intelligence computing platform built on the open network, trading activity intensified, with TON rising 0.77% to $1.5029 in 24 hours.
According to CoinDesk Research’s technical analysis data model, transaction volume surged to 2.95 million, a 37% increase from the weekly average.
The price will change when Cocoon starts processing real-time user requests. The platform enables GPU owners to rent computing power for AI inference tasks and receive TON tokens as compensation.
Telegram has deep ties to the TON ecosystem and is the first user of Cocoon’s artificial intelligence infrastructure.
While TON’s gains have lagged the broader cryptocurrency benchmark, underperforming the CoinDesk 20 (CD20) index, which has gained 1.47% during the same period, the surge in trading volume suggests that large market players may be building positions.
Despite falling to an intraday low of $1.4501, the coin showed strength during the period, closing well above the open of $1.4914 and holding on to key support around $1.45.
The price is still fluctuating within a narrow range, indicating that it has entered a consolidation phase. Nonetheless, the increase in numbers and the development of the ecosystem indicate growing interest in TON’s role as decentralized artificial intelligence infrastructure.
Support is also near $1.44 and resistance is near $1.51. A sustained break above this level could lead to a test of $1.53 in the near term.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
