The number of Bitcoin ATMs around the world has declined sharply in the past year 2022. May saw the emergence of just 202 new BTC ATMs. This is a drop from the three-year ago.
Bitcoin ATM installation numbers have been steadily declining over the past five month since January. They eventually fell 89.75% compared to December 2021’s 1971 installations. Coin ATM Radar data shows a clear rebound in installation numbers, with 817 Bitcoin ATMs being installed around the globe in June — and that was just in the first five days.
Monthly net change in the number of crypto machines installed and removed. Source: Coin ATM Radar
Geopolitical tensions around the globe, unclear or anticrypto regulations and market saturation are some of the main factors that contributed to the slowdown in crypto ATM installation.
Coin ATM Radar data shows that the United States has 87.9% out of 37,826 global crypto ATMs. Europe is a continent that houses 1,419 ATMs, which represents 3.8% of global ATM installations.
Over time, number of cryptocurrency machines installed in the United States by manufacturers. Source: Coin ATM Radar
Genesis Coin, a crypto ATM manufacturer, maintains its leadership position in terms of market share. It currently represents 41% of all global operational crypto ATMs. General Bytes (21.6%) is another prominent manufacturer, as are BitAccess (16%) Coinsource (5.4%), Bitstop (4.7%), and Coinsource (16%).
Related: Bitcoin Lightning Network’s capacity surpasses 3900 BTC, marking a new ATH
Although real-world problems may temporarily impact Bitcoin’s physical expansion via ATMs (ATMs), at its core, Bitcoin continues to surpass its previous records in securing and decentralizing the impenetrable peer-2-peer (P2P), network.
All channels combined cumulative Bitcoin capacity Source: BitcoinVisuals node
Cointelegraph, based on data from Bitcoin Visuals reported that the Bitcoin Lightning Network’s (LN), capacity reached an all-time high 3915.776 BTC — further improving BTC transactions speeds and reducing fees. To address Bitcoin’s notorious scaling issues, the Bitcoin LN was implemented in the Bitcoin mainnet for the first time in 2018.
Eileen Wilson –Technology and Energy
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