Very low conversion with crypto affiliate

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I had good conversion with crypto affiliate like binance referral around 2-3 years back. But now the situation is very bad. Even the referrals I got in past have become inactive now. Is this entirely because of bear market or I need to approach it in a better way?
 
People lose interest in the bear market
So that's a big factor.
It can also be your source of traffic or the ad copy because what worked 3 years ago may not work now.
 
I had good conversion with crypto affiliate like binance referral around 2-3 years back. But now the situation is very bad. Even the referrals I got in past have become inactive now. Is this entirely because of bear market or I need to approach it in a better way?
Same programs or different programs? How much traffic were you getting and what kind of angle is it? Are they looking for news or something else?

I know spreads and commissions are going up for crypto, I think it's in response to waning interest.
 
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