Cryptocurrencies retreat en masse as bitcoin, ethereum both plunge 7%

On Tuesday, cryptocurrencies fell collectively, with bitcoin plunging 7% near the $60,000 mark, ethereum down 7.6% to about $4,300, Solana down 5.95% to $228, Ada coin down 5.42%, Ripple down 7.03%, dogcoin down 6%, and shibori coin down 4.17%.

On the news, China's National Development and Reform Commission held a press conference on the 16th, China's National Development and Reform Commission spokesman Meng Wei said, virtual currency "mining" behavior exists extremely serious harm, will be industrial-style centralized "mining", state-owned units The spokesperson of the National Development and Reform Commission of China, Meng Wei, said that virtual currency "mining" is a very serious hazard, and will focus on industrial and centralized "mining", state-owned units, and bitcoin "mining" to carry out comprehensive rectification. She said, virtual currency "mining" energy consumption and carbon emissions, industrial development, scientific and technological progress does not have a positive driving effect, coupled with the virtual currency production, trading links derived from the risk of increasingly prominent, its blind disorderly development to promote high-quality economic and social development and energy saving and emission reduction brought serious adverse effects.