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Crypto

IOST Token Price Skyrockets After 70 Million Tokens Burned

Guavy AI Editorial Team
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BNB IOST
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The altcoin IOST has surged over 100% in value after its foundation announced the permanent removal of 70 million tokens from circulation.

This move is part of efforts to maintain a healthier supply structure for the network and ecosystem, according to the IOST Foundation.

Simultaneously, large-scale IOST transfers on Binance have also been observed. The exchange transferred approximately $1.43 million worth of IOST from its cold wallet to its hot wallet before distributing it among active liquidity addresses.

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