TON Rallies 8% as Telegram Ecosystem Expands With AI Launch, Tokenized Stocks
TON surged over 8% following the launch of the COCOON AI network and the integration of tokenized stocks within the Telegram ecosystem.Summary
The native token of the Telegram-affiliated blockchain, TON, surged 8.33% to $1.60, significantly outperforming the broader crypto market. This rally was fueled by major ecosystem developments highlighted in TON's October recap. Key among these was the launch of Confidential Compute Open Network (COCOON), a decentralized AI network introduced by Telegram founder Pavel Durov, designed to integrate AI tools and financial applications across Telegram's 900 million users. Further boosting momentum, TON now supports trading of tokenized U.S. stocks via Telegram wallets, and Lamborghini debuted digital collectibles on the network. Growth in liquidity and institutional interest is also evident, marked by TON's listing on Bitstamp and Chainlink adopting it as a crosschain standard. Technically, TON confirmed a double bottom pattern breakout with increased volume and an RSI rebound.
(Source：CoinDesk)