Global Surge in Crypto ATM Installations Approaches Historic Peak

A Resurgence in Cryptocurrency ATM Installations Reflects Renewed Market Optimism
Global Surge in Crypto ATM Installations Approaches Historic Peak
Author:

The cryptocurrency landscape is witnessing a significant resurgence in ATM installations, nearing an all-time high. Over the past 12 months, the number of cryptocurrency ATMs worldwide has surged by 17.8%, reaching a total of 38,279 machines. This marks a significant recovery, moving closer to the record 39,541 ATMs recorded in December 2022.

In 2024 alone, 2,564 new cryptocurrency ATMs have been installed, a notable contrast to the net loss of 2,861 machines experienced in 2023. This positive trend underscores a revitalized market, with new installations increasing consistently every month from July 2023 to May 2024.

Despite a slight dip in installations from May to June, the numbers bounced back robustly in June with a net increase of 377 machines. Major players like Bitcoin Depot, Coinflip, and Athena Bitcoin are leading the charge, operating 7,543, 5,057, and 2,756 ATMs respectively.

Bitcoin remains the most popular cryptocurrency for transactions at these ATMs, with significant activity in Bitcoin Cash, Ether, and Litecoin as well. The United States leads globally with over 82% of all cryptocurrency ATMs, followed by Canada at 7.7%.

Australia has experienced a remarkable surge, increasing its installations nearly 17-fold to 1,107 machines over the past two years. At this rate, Australia is on track to surpass Europe, which currently hosts 1,584 ATMs.

Other countries with significant installations include Spain (313), Poland (279), El Salvador (215), Germany (177), and Hong Kong (169). In total, 72 out of the 193 United Nations-recognized countries host cryptocurrency ATMs.

This growth comes after a challenging period between December 2022 and July 2023, where installations saw a significant decline, dropping to an 18-month low of 32,764. The decline was partly due to BitAccess, a major ATM manufacturer, which saw its net installations drop by 26% from 9,160 in August 2022 to 6,774 in January 2024. However, BitAccess has since increased its net installations by 1,208.

The rebound in cryptocurrency ATM installations signifies a renewed confidence in the market and a positive outlook for the future of decentralized finance.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

logo
Crypto Insider News Inc
cryptoinsider.news