Bit of a noob here but why does my staking yield keep going down?

I wish I had done more research but I staked 2.5 eth with… binance. I was on around 0.0004 eth a day but its gradually been getting less and less. Is the staking rewards global? e.g i staked my eth at 7.5% but now more people have staked since, the rewards distributed are less and less since more people are taking a cut?