Crypto Presales, a major crypto market data compiler has shared an alarming report pertaining to crypto ATMs. The firm has made a revelation about the reduced number of crypto ATM installations.
Crypto ATMs Experience a Reduction
The firm has revealed that in the year 2022 so far, a total of 6,100 ATMs for cryptocurrencies have been installed all over the world. These ATMs are for Bitcoin BTC) as well altcoins.
Crypto Presales has compared the total number of crypto ATMs installed in the running year versus the ATMs installed last year. It has run the comparison for the same number of months (11) from 2021.
The firm has revealed that the number of crypto ATMs installed in 2022 is three times less than the year 2021. The year 2021 saw rapid growth in the number of crypto ATMs installed.
However, the situation has not been the same for the cryptocurrency industry in the year 2022. The crypto sector has not performed well in the running year, facing multiple market crashes.
With cryptocurrencies including Bitcoin losing their strong trading values, people are losing interest in cryptocurrencies.
Therefore, the adoption of crypto ATMs is not as much as it used to be in the year 2021.
ATM Installations Report
Ever since the crypto ATMs started getting installed, it was the year 2021 that saw the highest number of installations.
Even now, the year holds the record for the highest number of installations. In the year 2021, the total number of BTC and altcoin ATMs installed was 20,300.
Following the highest number of installations, the overall crypto ATM count recorded until 2021 was 32,600.
The report further reveals that in the mid of 2022, the total number of cryptocurrency ATMs installed all over the world is 37,800. From the start of 2022 until August 2022, the number had risen to 38,800 ATMs.
Unfortunately, the number of BTMs experienced a major downslope and the total ATMs for crypto came down to 38,400.
As per the shared data, a significant drop in the crypto ATMs was recorded in September 2022.
However, the data gathered by Crypto Presales has revealed that the total number of crypto ATMs recovered to 39,000.
ATM Segregation by Area
Out of the total number of crypto ATMs, 90% have been installed in the United States. Number two is Canada with a total of 2,688 ATMs.
The reduction in the total number of crypto ATMs shows that people have been losing their interest in cryptocurrencies.
The reduction in usage means that people are losing their trust and confidence in sticking with cryptocurrencies. If the number keeps dropping, cryptocurrencies will keep losing their market value.