Correct Answer: Reduced

Solution : The correct choice is the third option.

Hyped denotes exaggerated promotion or excitement, often beyond what is justified. Reduced means made smaller or less in amount, degree, or size. So, reduced is the word that has the opposite meaning to hyped in the context of being less or diminished rather than exaggerated or heightened.

The meanings of the other options are as follows:

• Dilate means to widen or expand.
• Upped means increased or raised.
• Parlayed means to exploit or transform something into something of greater value.

Therefore, the correct answer is, reduced.