TON’s price climbed 3.7% to $1.605 over the last 24-hour period, buoyed by rising trading volume and back-to-back developments in decentralized governance and AI infrastructure.

Trading activity spiked 16% above its seven-day moving average, according to CoinDesk Research's technical analysis data model, with large market player flows supporting the move.

The price jump came as STON.fi, TON’s largest decentralized finance protocol, launched the network’s first fully on-chain decentralized autonomous organization (DAO). The update allows governance decisions, such as upgrades, parameters, and funding allocations, to be voted on by users who stake STON tokens.

In return, they receive ARKENSTON tokens representing voting power, creating an incentive to stay involved over the long term. STON.fi reported more than 29 million completed swaps across 5.6 million wallets, suggesting widespread user reach.

Separately, Cocoon, a decentralized AI platform built on TON, also went live earlier this year and may still be influencing demand for the token. The system enables users to rent out unused GPU power in exchange for TON, eliminating the need for centralized cloud providers.

The first major customer is Telegram itself, which is using the network to power confidential message translation. The launch integrates AI compute into TON’s ecosystem, positioning it as a privacy-first infrastructure layer for future apps.

TON broke past $1.6040 resistance, with the next target near $1.6150. Volume at breakout surged 67% above the 24-hour average.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.