Toncoin Gains on Cocoon Launch, Volume Surges
Toncoin (TON) rose 0.77% to $1.5029 as trading activity spiked following the launch of Cocoon, a decentralized AI compute platform built on The Open Network. Volume jumped to 2.95 million, 37% above its 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, with Telegram as the platform’s first live user.
Although TON’s gains lagged the 1.47% rise in the CoinDesk 20 Index, the surge in volume suggests potential institutional accumulation. The token held support near $1.45 despite dipping to $1.4501, closing above $1.4914.
Price remains in a tight 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 as a decentralized AI infrastructure.
