Last month, 3627 crypto ATMs went offline, marking the biggest monthly ATM drop.
Cryptocurrencies, which are growing and adopted on a global scale, are reduced to communities thanks to physical ATMs. However, with 3,627 crypto ATMs going offline in March alone, the total number of ATMs fell to 33,727.
Since the first Bitcoin ATM was installed in 2013, the net change of crypto ATMs installed and removed monthly has been positive. However, according to data from Coin ATM Radar, with the decline in March, this positive trend started to reverse.
Trend Turns Negative in Crypto ATMs
The popularity of cryptocurrencies brought with it a global crypto ATM frenzy. Crypto ATMs, which increased especially after 2021, started to turn into a negative trend with the recent decreases.
The year 2023 is negative for crypto ATMs. It was observed that 1,587 crypto ATMs were offline in January, 275 crypto ATMs in February, and 3,627 crypto ATMs in March.
Crypto ATMs, which tend to go offline from September 2022, broke records last month. March 2023 was the month with the most crypto ATMs offline on a monthly basis.
It also stands out that the number of crypto ATMs installed over time was 2,048 in January 2021. Considering this data, it puts the importance of the decline in March on the table.
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