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47.5 million $HYPE tokens were directly burned. To put it simply, Hyperliquid used money to buy back its own tokens for destruction, totaling $1.321 billion, and now these tokens are worth $4.366 billion. I've fallen into the same trap before—used to get excited when seeing a project team buy back tokens, thinking it would pump the price, but after buying in, I realized they were buying slowly while I chased the price recklessly.