Technical analysis by ColdBloodedCharter about Symbol TON on 10/29/2025

Massive news for the TON ecosystem as Pavel Durov unveiled #COCOON. Let me start by saying that there are some massive red flags with this blockchain. Huge monthly unlocks began earlier this month (see attached info): 36.59 million tokens were released on 12 OCT, marking the first of 36 monthly unlocks scheduled over the next 36 months — roughly $80M worth. The next batch is due 11 NOV, two weeks from now. Another red flag is TON’s general performance this cycle — it has heavily underperformed compared to ETH , #DeFi tokens, and basically every major category. See the attached graphic in the comments (on X). Further, on-chain metrics — especially revenues and fees — are disappointing. You’d expect more adoption considering Telegram has nearly a billion users. Nope — the blockchain still struggles to generate meaningful revenue. Finally, on the weekly chart, TON remains in a steady downtrend this cycle, with a bearish pennant breakdown in place. It’s very oversold (RSI ≈ 20) and does show a bullish OBV divergence, though. The COCOON collaboration does sound exciting, and I’ll research it further — but there are still too many red flags surrounding this layer 1. Definitely not aping in yet. The charts have to convince me first, not Durov — so, not yet. 💙👽