Bitcoin ATM numbers drop drastically despite 2023 crypto boom

New Delhi: Even after the crypto world broke ground in 2023, the number of Bitcoin ATMs has dropped by about 7,000 so far, a new report revealed on Wednesday. According to AltIndex.com, the number of Bitcoin ATMs has been falling steadily over the past ten months, after reaching an all-time high of more than 39,100 in December 2022.
According to statistics, more than 4,000 Bitcoin ATMs were removed in July alone, the highest number in the history of the market. Since then, around 500 new Bitcoin ATMs have been added to the market, but their total number remains around 32,500, a figure last seen in December 2021. Although the US has the highest number of crypto ATMs, most of the Bitcoin ATMs removed this year so far were from the US market. According to the report, US citizens could use more than 26,700 crypto ATMs last week, down from 34,200 in December 2022.
July 2023 brought its worst decline after more than 2,300 new machines were added to the global Bitcoin ATM network in May and June, the report said.
CoinATMRadar data shows that more than 1,500 ATMs supporting digital coins were removed in January, marking the first signs of a negative trend. March saw an even bigger decline, with the number of Bitcoin ATMs falling by approximately 3,600 in that month alone.