USDC Treasury just executed a massive burn operation — wiping out 79 million tokens worth approximately $79M from circulation. This kind of supply adjustment typically signals demand fluctuations or strategic reserve management by Circle. For context, token burns directly impact circulating supply metrics, which can influence stablecoin market dynamics. The Treasury's move comes at a time when stablecoin flows remain a key indicator for broader crypto market liquidity. Worth monitoring how this affects USDC's market positioning against competitors in the coming weeks.