TON, the native token of the Telegram-affiliated blockchain, surged 8.33% to $1.60 in the last 24 hours, thanks to a combination of ecosystem milestones and growing support.
The move propelled TON past the $1.60 mark, thanks to rising volumes and resuming market momentum, while outperforming the broader crypto market. Based on the performance of the CoinDesk 20 Index (CD20), the market is up approximately 4% during the same period.
The gathering follows the release of TON’s ecosystem roundup in October, which highlighted key developments including the launch of Confidential Compute Open Network (COCOON), a decentralized AI network introduced by Telegram founder Pavel Durov.
Integrated directly with Telegram, COCOON aims to connect financial apps and AI tools among the app’s 900 million users, positioning TON as a hub for AI-powered decentralized finance.
Other updates fueled the movement. TON now supports trading tokenized US stocks through Telegram wallets, while Lamborghini has launched digital collectibles on the network.
Liquidity and institutional interest are also increasing. TON was listed on Bitstamp, adding to previous support from Coinbase Ventures and Gemini. Chainlink has adopted TON as its crosschain standard, enabling easier data integration for applications built on the network.
TON’s main DEX, STON.fi, reported an increase in TVL and volumes under new yield farming programs.
From a technical perspective, TON confirmed the exit from a double bottom pattern, with volume up 15% and RSI rebounding from oversold levels, according to CoinDesk Research’s technical analysis data model.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
