Micron Technology saw its stock drop 10%, erasing roughly $110 billion in market capitalization, before rebounding nearly 10%. The selloff was driven by concerns about oversupply in the memory-chip sector, particularly capacity decisions by competitors like SK Hynix, which contrast with sustained demand for AI-related memory applications. In July 2026, Ondo Finance launched MUon, a tokenized version of Micron shares on Ethereum, with its price directly tracking the underlying stock. This new offering enables investors to express a position on Micron through different instruments with varying liquidity profiles and settlement mechanics.
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