IOST gained more than 100% in 24 hours after the IOST Foundation completed the permanent removal, or burning, of 70 million tokens from circulation. The foundation said the action was intended to support a healthier supply structure while it continues developing the IOST network and ecosystem. Binance also moved approximately $1.43 million worth of IOST from its cold wallet (offline crypto storage) to its hot wallet (internet-connected crypto storage), before distributing tokens to active liquidity addresses. On-chain data shows Binance has moved more than 285 million IOST among active hot wallets, mostly in batches of 60 million to 75 million tokens at an average price of about $0.00154. The transferred 285 million IOST is estimated at approximately $440,000, while Binance's main hot wallet still holds around 715 million IOST. This is not investment advice.