Toncoin (TON) Climbs to $1.50 as Cocoon Launch Sparks Surge in Trading Volume
Toncoin reached $1.50 after the launch of Cocoon, a decentralized AI compute platform, driving a 37% spike in trading volume.Summary
Toncoin (TON) rose to $1.5029 following the introduction of Cocoon, a new decentralized AI compute platform built on The Open Network. Trading volume surged by 37% over the weekly average, indicating potential interest from large market participants, despite TON's gains trailing broader crypto benchmarks like the CoinDesk 20 index.
Cocoon allows GPU owners to rent out computing power for AI inference tasks, receiving TON tokens as compensation. Telegram has been announced as the first user of Cocoon’s AI infrastructure, leveraging its deep ties to the TON ecosystem.
The token showed resilience, closing above its open of $1.4914 and holding key support near $1.45, suggesting consolidation within a narrow range. Technical analysis points to resistance near $1.51, with a sustained move above this level potentially leading to a test of $1.53.
(Source：CoinDesk)