The domino effect of a lengthy down market seeped into the Bitcoin (BTC) ATM ecosystem in September 2022, when global net installations registered negative growth for the first time in history, mostly due to a slowdown in the United States, as reported by Cointelegraph.
According to CoinATMRadar statistics, the total number of Bitcoin ATMs installed throughout time declined to 37,980 in September from an all-time high of 38,776 ATMs in August, resulting in a -2.05% drop, Cointelegraph noted.
Despite the setback, data from the last 60 days show that almost 14 crypto ATMs are installed globally every day, with Genesis Coin accounting for 40.3% of ATMs among other manufacturers. General Bytes and BitAccess are two other well-known crypto ATM producers.
The abrupt decrease in crypto ATM installations can be ascribed to geopolitical concerns, as well as a lack of legislative clarity and market uncertainties.
(With insights from Cointelegraph)