Let's talk about the monthly decline of cryptocurrency ATMs
Hello dear readers, let this post serve to share information related to the true fact that more than 3,600 Bitcoin ATMs were disconnected in March, which to date has been listed as the largest monthly decline in history.
The truth is that according to information disclosed on the Cointelegraph portal, contradicting Bitcoin's growing global adoption rate, physical ATMs dedicated to fiat-to-crypto conversions are in decline. In March alone, 3,627 ATMs dedicated to cryptocurrencies were removed from the network, bringing the total number of ATMs down to 33,727.
In the decade since the launch of the first Bitcoin ATM on October 29, 2013, the net change of cryptocurrency ATMs installed and withdrawn monthly remained positive most of the time.
This situation implies that the total number of cryptocurrency ATMs worldwide increased steadily. However, the trend is reversing, according to data from Coin ATM Radar.
As shown in the cover image net cryptocurrency ATM installations declined for four months between September 2022 and March 2023. However, with 3,627 cryptocurrency ATMs withdrawn last month, March 2023 stands out as the month with the largest monthly decline.
SOURCES CONSULTED
Cointelegraph More than 3,600 Bitcoin ATMs went offline to record largest monthly decline. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Cointelegraph
We're still in a bear market, and some governments and central banks are waging a campaign against crypto which make the idea of serving a crypto ATM less appetite for some...It is a big decline but I hope it is transitory.
Thanks for sharing. Have a good day :) @lupafilotaxia
Hello @qsyal
Maybe that campaign against cryptocurrencies is being lost by the powerful states, and that is seen in the strength that the price action has been developing.
Best regards, be well.