Toncoin Gains Momentum as Cocoon Launch Drives Volume
Toncoin (TON) rose 0.77% to $1.5029, fueled by heightened trading activity following the debut of Cocoon, a decentralized AI compute platform built on The Open Network. Volume surged to 2.95 million, a 37% jump above 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 serving as the platform’s first live user.
Although TON’s gains lagged the 1.47% rise in the CoinDesk 20 Index, the spike in volume suggests potential accumulation by institutional players. The token held key support near $1.45 despite a session low of $1.4501, closing above $1.4914.
Price remains in a narrow range, signaling consolidation. Support sits at $1.44, resistance near $1.51, and a sustained move above $1.51 could target $1.53, highlighting growing interest in TON’s role in decentralized AI infrastructure.
