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USDC Treasury burns $100M worth of USDC on Solana network on Nov 2

Protocol Fundamentals
02 Nov 2026, 20:25 WIB
Tokenpost
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Neutral
USDC Treasury burns $100M worth of USDC on Solana network on Nov 2

On November 2, the USDC Treasury conducted a significant transaction by burning 100 million USDC tokens on the Solana blockchain, valued at approximately $100.151 million. This move reduces the circulating supply of USDC, potentially impacting liquidity and market dynamics for the stablecoin. The burn reflects ongoing management of the token supply by the USDC issuer, which could influence investor confidence and token stability going forward.

The USDC Treasury's burn of 100 million USDC tokens on Solana provides context for market watchers. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Nov 03, 2026 01:22 WIB: out of 50 major cryptocurrencies, 5 rose and 44 fell. Notable movers include AXS down 4.06% at Rp15.179, SAND down 4.02% at Rp813, and ATOM down 4.01% at Rp25.838.

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