The native token of Telegram, Toncoin TON, has recently seen a rebound, surging 8.33% within 24 hours, breaking through $1.60 and now sitting at $1.51. This wave of increase is mainly attributed to the recently launched ( Confidential Compute Open Network, abbreviated as COCOON), as well as the newly introduced tokenization of U.S. stocks and digital collectibles.
Telegram Ecosystem's New Momentum: COCOON and tokenization of stocks
The strong rise of TON is not coincidental, but rather driven by multiple significant advancements within the Telegram ecosystem. In October, TON released an ecosystem review report, the most notable of which is the decentralized confidential computing open network (COCOON) initiated by Telegram founder Pavel Durov.
COCOON is a decentralized artificial intelligence computing network that will run on the TON blockchain, providing privacy protection and data security. Its goal is to connect GPU providers, AI developers, and users, allowing those who provide computing resources to earn TON rewards, while developers can utilize these resources in a decentralized market. COCOON will be directly integrated into Telegram, aiming to bring over 900 million users into a decentralized AI infrastructure.
Telegram wallet can trade tokenized stocks
Aside from COCOON, the TON ecosystem has also launched tokenized US stocks. Users can now trade these tokenized stocks through the Telegram wallet. The value of TON has soared, closely related to its improved liquidity and increased institutional participation. Recently, TON has been listed on the Bitstamp exchange, bringing it broader trading channels and liquidity.
Coinbase Ventures and Gemini have expressed support for TON to join the exchange, and Chainlink has also announced that it will adopt TON as a cross-chain standard, becoming part of its interoperability protocol. This means that applications based on the TON blockchain can more easily integrate data from other chains, opening new pathways for DeFi, ecosystem services, and data flow.
In terms of technical analysis, CoinDesk Research's data model shows that TON has confirmed a breakout from a “double bottom pattern”, which is a common reversal pattern, suggesting that the market may welcome a new bullish wave. Trading volume has increased by about 15% compared to the previous period, and the relative strength index (RSI) has rebounded from the oversold area, indicating a recovery in market momentum.
TON aims to combine AI, decentralized finance, and social applications to create a true super app. However, decentralized AI itself is still in its early stages of development, and its sustainability is a significant variable; additionally, the legal risks of tokenization of stocks cannot be ignored. Although institutional funds are flowing in, the volatility of TON remains high, and the price may also correct in the short term.
This article discusses the positive impact of AI calculations and tokenization of stocks, with the expansion of the Telegram ecosystem driving the pump of TON, first appearing in Chain News ABMedia.
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