Reasons being; - Drop in crypto transaction volume in general - Retail do not have the appetite to invest with these prices - No more stimulus injection to pump the market - more and more exchanges popping up as an alternative - customer service is not great (still better than binance though :)) - I do think their subscription service is something you can get free with other exchanges Considering the majority of $coin's revenue is indirectly tied to the above reasons I expect it to go down more.
It's a pretty deep pit
The main reason is they take a bigger commission for what competition does for free.