The domino effect of a protracted bear market has permeated Bitcoin (Bitcoin) In September 2022, the ATM ecosystem recorded negative growth in global net installs for the first time ever, largely due to a slowdown in the US.
Over time, the total number of Bitcoin ATMs installed fell from an all-time high of 38,776 in August to 37,980 in September. data From Coin ATM Radar.
Data on the net change in encrypted ATM installations confirms that 796 encrypted ATMs were pulled from the global network in September. 825 ATMs were down in the US alone. However, Europe, Canada, and several other jurisdictions have made new installations locally to mitigate the decline.
Despite being frustrated data Based on 60 days, there are around 14 cryptocurrency ATMs installed per day worldwide, with Genesis Coin holding a 40.3% share of ATMs among other manufacturers. Other popular crypto ATM manufacturers include General Bytes and BitAccess.
The sharp decline in the number of encrypted ATM installations can be attributed to geopolitical tensions, among other factors, such as lack of regulatory clarity and market uncertainty.
Crypto ATM installations have been hit temporarily by external factors, but countries continue to show interest in having functioning crypto ATMs within their borders.
Recently, Japan decided to reintroduce cryptocurrency ATMs after 2014, led by local crypto exchange Gaia Co. Initially, new ATMs will be installed in Tokyo and Osaka. The company plans to have 50 of his BTMs installed nationwide by August 2023.
As reported by Cointelegraph, Gaia First Locally Registered Crypto Company Install crypto ATMs in Japan.