announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.
Yes, check the market cap once it is also decreasing and the value of bitcoin is kept decreasing. So it is effecting verge also, even though it is a positive but market is not in a correct situation to increase its price.