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IOST IOST rose more than 100% in 24 hours, and the foundation permanently destroyed 70 million tokens.
IOST (IOST) has become one of the high-profile altcoins in the cryptocurrency market, with its value soaring by more than 100% in the past 24 hours. This sharp price move follows the IOST Foundation's announcement that 70 million IOST tokens have been permanently removed from circulation.
The IOST Foundation confirmed that the destruction of 70 million IOST tokens has been completed and that these tokens have been permanently removed from the total supply. The foundation said the move is part of its efforts to maintain a healthier supply structure, and will continue to work on the development of the IOST network and ecosystem.
At the same time, coinciding with the price increase is the attention attracted by large-scale IOST transfer activity on the Binance platform. According to online data, Binance transferred approximately $1.43 million worth of IOST from its cold wallet to hot wallet, and then began distributing these tokens to active liquidity addresses on exchanges.
data shows that as of now, the total number of IOSTs transferred by Binance between its active hot wallets has exceeded 285 million. Most of these transfers were made in units of 60 million to 75 million IOSTs per batch, with an average price of approximately US$0.00154. The 285 million transferred IOSTs are valued at approximately US$440,000, while the main hot wallet still holds approximately 715 million IOSTs.
The above content does not constitute investment advice.
