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Tone Vays, a well-known commentator in the cryptocurrency space, sheds light on Monero's current state. He points out that confidence in Monero has drastically declined since its 2017 peak.
According to Vays, Monero is currently down by 94% and faces further downside risk. Vays attributed these issues to Monero’s perceived irrelevance and centralization, as discussed on his CryptoScam Podcast four years ago. His comments emphasize ongoing concerns within the crypto community regarding Monero's future viability.