Why BNXA has droppedIn terms of payment providers, it's going to be about a variety of factors. Obviously the higher the transaction volumes the better, and really that is why BNXA took off earlier this year is based solely on this volume increase. Now that cryptos are undecided as to their new direction (for the time being) margins and cash burn rate become all important. If BNXA manages their finances prudently, then a few years from now it's likely to be a lot higher -- assuming cryptos aren't completely banned as China has been trying to do.
In short, there are three reasons I believe BNXA is tanking:
1) High cash burn rate (we'll see just how high next week)
2) Margin pressure on their fee structure
3) The threat of international regulations that could prevent investors from trading, or even simply scare them away
High risk, high reward. I might buy back in in the $2 range, if it gets there.