Not holding onto any illusions anymore. After all, when it comes to the token structure, most of XPL's initial distribution came from wealthy miners. The 10% circulating initial tokens, with a cost basis of 0.05, are almost negligible. The essentially free profit-taking at a price of 0.5 amounts to 500M (purely within the crypto circle's liquidity). At the same time, to get a 5wu allocation back then, you needed a 1M deposit. Only those with money could afford to deposit, and the first and second rounds of deposit quotas were instantly filled. This shows that the depositors were basically wealthy individuals + institutions. After HL's short squeeze, the hedged short positions were largely depleted. The remaining ones hedging on Binance are unlikely to be forced out, and sentiment has also been drained by WLFI. In the same stablecoin sector, WLFI suppresses the ceiling downward, which in turn impacts XPL. This is why I just speculated that those who hedged WLFI might now be hedging XPL.