Biggest drop in Bitcoin ATMs ever: Over 3,600 ATMs offline

The past month has been very positive with regard to the bitcoin price. On March 1, bitcoin (BTC) was still worth about $23,000, but the value has since risen more than 23% to $28,400. In the midst of the current banking crisis, people also seem to understand the underlying value of Bitcoin more and more. This has obviously benefited the overall crypto market, as the prices of most cryptocurrencies have risen sharply in March.

Despite this, the number of physical crypto ATMs posted its biggest monthly drop ever in the past month.

Number of Bitcoin ATMs are falling enormously

In the past 31 days, no fewer than 3,627 crypto ATMs have been removed from the network. This is according to data from CoinATMRadar. This brings the current total to 33,727 ATMs.

The first Bitcoin ATM was launched on October 29, 2013, and the number of machines has steadily increased every month since then. However, this trend may now be reversing.

In January of this year, no less than 1,587 ATMs were lost and in February there were 275. September 2022 also recorded a net decrease: 399 machines left the network at the time. In the overall picture, these months can therefore be called exceptions, as these were the only months with a net decrease in crypto ATMs.

With an outage of 3,625 crypto ATMs, March 2023 stands out as the month with the largest monthly drop ever. It is also the largest net change overall. The highest number of ATMs installed in a single month was 2,048 – in January 2021, amid the booming bull market.

April starts strong

In April, the downward trend of 2023 has been broken so far as there were 37 crypto ATM registrations as of April 1. However, the month of April will of course take a long time and so it is anything but certain that the month will end in green.

The current market leaders in crypto ATM manufacturing are General Bytes, BitAccess, and Genesis Coin.

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