Crypto ATMs Experience a Slump in Growth Due to Bear Market
On March 1, according to Coin ATM Radar data, in the first two months of 2023, the number of cryptocurrency ATMs installed worldwide decreased by 412. Since 20…
On March 1, according to Coin ATM Radar data, in the first two months of 2023, the number of cryptocurrency ATMs installed worldwide decreased by 412. Since 2014, the total number of encrypted ATMs has risen steadily. In the year from December 2020 to January 2022, more than 1000 cryptocurrency and bitcoin ATMs will be installed every month. However, the bear market has a direct impact on its growth.
Data: The number of Bitcoin ATMs decreased by more than 400 in the first two months of 2023
Interpretation of the news:
The proliferation of cryptocurrency ATMs around world has been experiencing a slump in growth due to the bear market conditions. According to data from Coin ATM Radar, the first two months of 2023 saw a decrease of 412 in the number of cryptocurrency ATMs installed across the world. This is a drastic change from the steady increase that has been observed in the total number of encrypted ATMs since 2014. The decline could be attributed to the impact of the ongoing bear market conditions.
Over the years, the total number of crypto ATMs has been increasing significantly. In the one-year period between December 2020 to January 2022, the installation of over 1000 cryptocurrency and bitcoin ATMs per month was observed globally. This milestone enabled millions of people to access crypto exchanges and conduct transactions without having to go through the traditional banking system. However, the bear market has caused a decline in the installation of new crypto ATMs.
Bear markets are characterized by a lack of confidence in the market, leading to a significant drop in prices across asset classes. This has a direct impact on the adoption and use of crypto ATMs. With investors losing confidence in the crypto space, the demand for these machines has decreased, and the operators of these machines cannot justify the installation of new machines.
The slump in the installation of crypto ATMs is a cause for concern for the crypto industry. Cryptocurrencies have long promised to bring a revolution in the way we exchange value and conduct financial transactions. However, with the decline in installations, reaching this milestone may take longer than expected.
In conclusion, the decline in the installation of cryptocurrency ATMs globally is a direct consequence of the ongoing bear market in the crypto industry. While the growth of crypto ATMs has been on a steady rise for some years, this slump may be somewhat temporary. As the crypto industry gains more stability, there could be renewed interest and demand for these machines, leading to a resurgence in the installation of crypto ATMs globally.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/4289.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Sanjian Capital’s Bankruptcy and the Role of Voyager Digital
According to reports, court documents submitted on Tuesday showed that just a few weeks before filing for bankruptcy, the crypto hedge fund Sanjian Capital (3A…
-
What is mining farm hash rate (is it better to have a large or small mining pool hash rate)?
What is mining farm hash rate? Mining is a relatively complex industry, and hash
-
Animoca Brands Lowers Meta Universe Fund Goal by 20%
According to reports, two people familiar with the matter said that Animoca Brands, a Web3 game developer and investment company, had lowered its goal for the Meta Universe Fund by
-
Trovio Discontinues Gold Token PMGT Business
On March 21, it was reported that the Singapore financial technology company Trovio ended its gold token PMGT business supported by gold due to its partner Perth Mint, an official
-
What is Short-Term Bitcoin (Which Bitcoin Short-Term Software is Good to Use)?
What is short-term Bitcoin? According to cryptobriefing news, short-term Bitcoin
-
What subject is blockchain (what major is blockchain science)
Blockchain What Discipline Blockchain technology is the intersection of computer systems, Cryptography, the Internet of Things and many other science and technology, and encryption algorithms and smart contracts are the combination of these technologies In theory, blockchain can be understood as a distributed data storage and management tool that can achieve transparency and tamper resistance to information; However, due to its decentralized and unforgeable nature of consensus mechanism, blockchain technology is highly susceptible to hacker attacks or theft, resulting in huge losses; Therefore, it is also a new form of economic paradigm What is blockchain majorAccording to Sina Financial News, at the 2018 Global Blockchain Development Conference, Liu Changyong, president of the Internet Industry Research Institute of Tsinghua University, made a speech saying that blockchain technology, as a disruptive technological innovation, is becoming a new Social phenomenon. Therefore, we need professional education to help blockchain practitioners understand and master blockchain related knowledge; At the same time, one must have a…
-
ParaSpace NFT Lending Agreement Suspended Over Suspicious Transaction Operations
According to reports, ParaSpace, the NFT lending agreement, officially stated that due to the team’s observation of suspicious transaction operations, the ParaSpace agreement has been suspended for security reasons, and users cannot conduct any transactions (withdrawals, deposits, and settlements). ParaSpace: For security reasons, currently users cannot perform any transactions Analysis based on this information:ParaSpace, the popular non-fungible token (NFT) lending agreement, has recently been suspended due to alleged suspicious transaction operations, as reported by the company. In a statement released on their official website, ParaSpace mentioned that their team has observed some transactions being carried out on their platform that violated their security guidelines. As a result, the company has opted to suspend all user transactions, including withdrawals, deposits, and settlements, until further notice. The suspension of transactions on ParaSpace is primarily aimed at preventing any unauthorized access to the platform or the funds involved in it. According to the company’s directive, users will not be able to access their…
-
Why blockchain cannot be tampered with (the immutability of blockchain can help identify the source of product fraud)
Why can’t blockchain be tampered with? Why can’t blockchain be tampered with In the computer field, there is a concept called “code readability”, which was invented by Cryptography experts. But before that, some people believed that this was an extremely strange and dangerous technology – that is, immutability So, what are the database technologies that cannot be tampered with today? Its existence is to prevent people from misunderstanding, damaging, or maliciously modifying data about the database. But if there is a method that allows the system to automatically update ledger information or write these contents into blocks for calculation, then this algorithm is: when a new node runs, it must store files and perform operations on it according to rules; Another approach relies on another node to process data, and the node operator should also create new data packets based on their own situation and save them for the next round of network upgrade process, so as to ensure the…
-
Sun Yuchen’s Diplomatic Passport Controversy: An Interpretation of the Rumors and Responses
On March 17th, in response to the rumor that Sun Yuchen’s diplomatic passport for the Grenada WTO ambassador was officially cancelled and invalidated in early February this year, the WTO emailed a response to Twitter user @ Loki_ Zeng said that Sun Yuchen still serves as Grenada’s Ambassador and Permanent Representative to the WTO. However, Adam Cochran, a partner and professional analyst at Cinneamhain Ventures, said, “Grenada refuses to confirm or deny Sun Yuchen’s position to reporters. Only Grenada’s website lists their ambassadorial missions, and it does not appear to list WTO missions at present, but it may be too late.”_ After receiving the WTO email, Zeng also stated that it had also inquired about Grenada and had not received a response. Twitter user: Grenada refuses to respond to rumors that Sun Yuchen’s passport has been invalidated, and the WTO says it remains the country’s representative Analysis based on this information:The controversy surrounding Sun Yuchen’s diplomatic passport and his position…
-
Nike Launches Its First NFT Sneaker Series on Swoosh Platform
According to reports, sports brand Nike will release its first NFT sneaker series on its recently launched Swoosh platform. This virtual sports shoe called Our Force 1 (OF1) will b