I am sure alot of you are asking this same question. While I am not sure how it got here, I know for certain that alot of whales dumped it to this level.
This goes along way to tell you that many of these whales are opportunists. They are the reason why many smart people left steemit.
We were all working for them and if you dare complain, they tell you to go and buy steem and compete with them.
What of the infighting among the whales and leaders of steemit? That is a topic for another day.
Do you remember 
Shame