at least it is obvious, first the coin was hyped with anon-features to a certain price level, then algo was improved to make the coin more profitable for mining.
Miners take profits and causing the sell pressure now.
It is all a bit shady, especially when you ask yourself who profits from the recent tech updates. But I blame nobody.
If this coin has a future? Time will tell after several rounds of halving.
Until then I have no significant hope for an upward price movement.
(sorry when I appear to be a troll but I am not, just a bit disentchanted)
Coins been around over 2 years, with anon features. It was rebranded from DOGED to VERGE. People got excited, and some people thought they were going to get rich. Obviously you haven't read much about the coins or the new multi-algo. It was done to solve a problem. The user is ultimately the one that profits since now the block chain is moving on a timely schedule.
As for the halving and price decline etc... That's all a good thing. When the price goes up, switch pools jump on the coin while the difficulty is low. They then dump the coin at the best price, and convert to BTC. They don't care which coin they mine as long as it's the most profitable. The halving should help in this aspect too.
Now we need to get this coin circulating.