Your domain will be released when the suspension ends. If you want to use it with another non-MOFH hosting provider, you can change your nameservers and wait 72 hours for DNS propagation.
Otherwise, your only option is to upgrade to premium, which costs as little as $5 a month.
Your own domain is your own domain, and it’s always been yours. You can go to your registrar and change the nameservers right now and host the domain elsewhere.
What we cannot do is let you host this domain name with us right now. Your website hit the daily limit, and is suspended for 24 hours as a result. So we don’t give you the option to skip the 24 hours and setup your site on a fresh account right away.