I cannot tell about Verge specifically, but I invite you to check altcoins all over the board...
They all have been hit pretty hard by all the bitcoin forking saga and now its huge
increase in value.

So, many people are selling their altcoins (even on a significant lost)
to get BTC.... and probably get $... which I can understand ;-)

When we tell that patience is key.... it has been especially true for the last months ;-)