According to data from cryptocurrency ATM aggregation website Coin ATM Radar, more than 3,600 cryptocurrency ATMs went offline in March. Since the end of 2022, the number of cryptocurrency ATMs has decreased by 13.91% in the last three months.
Crypto ATM Numbers Decline in 2023
According to data from Coin ATM Radarthe number of crypto ATMs around the world has decreased by 13.91% since December 2022. At that time, 39,179 crypto ATMs were installed around the world.
In January, 1,587 crypto ATMs went offline, marking the second time a large number of machines went offline since the loss of 399 crypto ATMs in September 2022. In February 2023, the decline in crypto ATMs was less drastic than in January and less than the withdrawal in September.
A total of 275 cryptocurrency ATMs went offline in February. The biggest drop was recorded in March, according to Coin ATM Radar Statisticswhich indicated a drop of 3,627 crypto ATMs.
The March loss coincided with the recent General Bytes hack that occurred on March 17 and 18, which resulted in the theft of more than $1.5 million worth of cryptocurrency. According to the statistics as of April 1, 2023, there are currently 33,728 crypto ATMs installed around the world.
General byte machines count towards 28.5% of all machines globally, with Bitaccess-made devices accounting for 20.2% of the market share. Genesis Coin ATMs account for 17% of machines worldwide, while Coincloud devices account for 12.7%.
As of Saturday, April 1, 2023, the United States has the most crypto ATMs in the world, followed by Canada, Australia, and Spain. More than 28,000 crypto ATMs are located in the United States, while Canada is home to more than 2,600.
Looking at the data in the crypto ATM manufacturing growth, Bitaccess experienced a decline, while the growth of General Bytes is increasing. Genesis Coin also saw a drop, but it was much less than Bitaccess’s drop between February and March.
What do you think the future holds for the crypto ATM industry? Will we see a rebound in numbers or a continued decline? Share your thoughts in the comments section below.
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