The move lifted $BLOCK's total locked supply to 7%, adding a supply-side reduction through a token burn and buyback.
The $BLOCK team said it bought back $20,000 worth of tokens and burned 1.4% of supply. The transaction raised the total locked supply of $BLOCK to 7%. Buybacks and token burns are commonly used to reduce circulating supply, while locked supply refers to tokens set aside and not immediately available for trading.