Nearly 1,400 new ATMs were added in the past month alone, to the crypto ATM network, which has been on the decline in the first four months of 2023.
The painful period of the cryptocurrency market has triggered global adoption and use. Crypto ATMs, in particular, had begun to decline and decline due to the bear market. But in May, the addition of about 1,400 new machines to the crypto ATM network drew attention.
Crypto ATMs started to attract attention and expand again with the increase in May. This sharp rise also reversed the long-standing crypto ATM decline.
Crypto ATMs Started to Proliferate
According to data from Coin ATM Radar, 1,397 new machines have been added to the global crypto ATM network. The data platform stated that in the first four months of 2023, about 6,000 crypto ATMs became history. In the past month after such a decline, crypto ATMs began expanding and relaunching.
In 2023, which entered the bankruptcy of FTX, the crypto pressures of the regulatory framework had reached a remarkable level. This has also triggered global crypto usage and adoption.
Early 2023 saw crypto ATMs begin to decline sharply in the US and Europe. However, Australia, Poland, and Spain have increased the number of crypto ATMs available in their respective countries.
Although crypto ATMs do not affect the crypto market based on price, they allow crypto users to convert their assets into fiat currency. This year, Australia became the third largest crypto ATM hub in the world with 223 new crypto ATMs.
After all the painful processes, it was noteworthy that 1,397 new crypto ATMs were added to the network in May. Currently, 35,069 crypto ATMs are in service.
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