Toncoin Rises on Cocoon Launch as Trading Volume Surges
Toncoin (TON) climbed 0.77% to $1.5029 amid a surge in trading activity following the launch of Cocoon, a decentralized AI compute platform built on The Open Network. Trading volume reached 2.95 million, a 37% increase over the weekly average, according to CoinDesk Research’s technical model.
Cocoon allows GPU owners to rent computing power for AI tasks in exchange for TON tokens, with Telegram as its first live user.
While TON underperformed the CoinDesk 20 Index, which gained 1.47%, the volume spike suggests potential institutional accumulation. The token held key support near $1.45 despite dipping to $1.4501, closing above $1.4914.
Price remains in a narrow range, indicating consolidation. Support sits at $1.44, with resistance near $1.51. A sustained break above $1.51 could target $1.53, reflecting growing interest in TON as decentralized AI infrastructure.
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