• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin ATM Network Sees Decrease in Global Network

user avatar

by Giorgi Kostiuk

2 years ago


The global network of Bitcoin ATMs has faced a decline of 334 machines in less than 40 days, coinciding with a drop in the price of Bitcoin. In June, 107 Bitcoin ATMs went offline, halting the 10-month trend of monthly installations. This decline was further exacerbated in July as 227 crypto ATMs were removed from the global network within five days. As countries like Australia and Spain expand their Bitcoin ATM presence, the United States and Europe have contributed the most to the global decrease. The US, hosting approximately 82.6% of the total Bitcoin and crypto ATMs worldwide, closed 182 ATMs in June and another 239 in the first week of July. Europe lost 29 ATMs in July, reducing the total number to 1,589 crypto ATMs. On the other hand, Australia added 77 new Bitcoin ATMs to the global circulation. The ongoing decrease in crypto ATMs might be linked to the global pressure authorities are applying to prevent financial crimes. US officials, including the Secret Service's Cyber Fraud and Money Laundering Task Force, have previously investigated Bitcoin ATM operators and their involvement in crypto frauds. The largest ATM operator in the US, Bitcoin Depot, revealed that there is no correlation between cryptocurrency prices and revenues. Despite Bitcoin's 155% surge in 2023, Bitcoin Depot reported only a 6% increase in annual revenue. The lack of correlation between Bitcoin Depot's revenues and Bitcoin prices is partly due to the nature of the provided services, according to company officials who mentioned that most users utilize their products and services for non-speculative purposes such as money transfers, international remittances, and online purchases.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Dogecoin Reclaims Key Support, Analysts Predict Potential Bull Run

chest

Dogecoin has successfully reclaimed its critical support level, leading analysts to speculate about a potential new parabolic rally.

user avatarZainab Kamara

Iran Introduces Bitcoin Payments for Shipping Tolls

chest

Iran announced that ships crossing the Strait of Hormuz could pay tolls in Bitcoin, US dollar stablecoins, or Chinese yuan.

user avatarTando Nkube

US Lawmakers Introduce Bitcoin Legislation

chest

In 2026, US lawmakers are pushing for Bitcoin legislation, including efforts to establish a strategic Bitcoin reserve and tax exemptions.

user avatarAyman Ben Youssef

Celebrating 16 Years of Bitcoin: From Pizza to Trillions

chest

The Bitcoin community celebrates the 16th anniversary of the first recorded Bitcoin transaction, highlighting its evolution from a novelty to a financial powerhouse.

user avatarSon Min-ho

Mozilla Introduces Project Nova with New Anti-AI Feature

chest

Mozilla has unveiled Project Nova, a significant redesign of its Firefox browser, which includes a unique anti-AI switch that allows users to turn off AI functionalities entirely, promoting user control and privacy.

user avatarKofi Adjeman

Winklevoss Twins Make Major Bitcoin Donation to Trump Campaign

chest

The Winklevoss twins have donated $21 million worth of Bitcoin to a political action committee supporting Donald Trump's reelection campaign, underscoring their commitment to the cryptocurrency's future.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.