Bitcoin ATM Installs See All-Time High in May, Biggest Drop Since 2019

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Bitcoin (BTC) ATM installs across the globe have seen a steep decline throughout 2022, with May seeing just 202 new BTC ATMs, a range last seen there. turns three in 2019.

Over the past five months since January, Bitcoin ATM installs have seen a gradual slowdown, eventually falling 89.75% from new installs in December 2021 to 1971. However, data from Coin ATM Radar reveals a return evident in the installation numbers as the world saw 817 Bitcoin ATMs installed in June – in just five days.

Net change in the number of cryptocurrency machines installed and removed monthly. Source: Coin-operated ATM Radar

Some of the key factors contributing to the slowdown in crypto ATM installs include geopolitical tensions across the globe, unclear or anti-crypto regulations, market saturation, and business impact due to the ongoing coronavirus pandemic.

Data from Coin ATM Radar confirms that the United States is home to 87.9% of the total 37,826 crypto ATMs in the world. Europe, as a continent, is home to a network of 1,419 ATMs, representing 3.8% of global ATM installations.

Number of cryptocurrency machines installed by manufacturer over time. Source: Coin-operated ATM Radar

Crypto ATM maker Genesis Coin maintains its leading position in terms of market share, accounting for 41% of total crypto ATMs operating across the globe. Other manufacturers with significant market share include General Bytes (21.6%), BitAccess (16%), Coinsource (5.4%) and Bitstop (4.7%).

Related: Bitcoin Lightning Network Capacity Surpasses 3900 BTC Marking New ATH

While real-world challenges may momentarily impact Bitcoin’s physical expansion through ATMs, the Bitcoin network continues to surpass its previous records for securing, decentralizing, and accelerating the peer-to-peer network. peer (P2P) impenetrable.

Cumulative bitcoin capacity across all channels. Source: BitcoinVisuals node

As Cointelegraph reported based on data from Bitcoin Visuals, the capacity of the Bitcoin Lightning Network (LN) reached an all-time high of 3,915,776 BTC, further improving BTC transaction speeds and reducing fees on the protocol by Layer 2. The Bitcoin LN was first implemented in the Bitcoin mainnet in 2018 to address Bitcoin’s infamous scalability issues.


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