Coin ATM Radar: The rate of installation of new cryptocurrencies in the world is falling

Coin ATM Radar: The rate of installation of new cryptocurrencies in the world is falling

The number of cryptocurrencies on the planet is steadily increasing, but in early 2022 the rate of installation began to decline, for the first time ever.

According to Coin ATM Radar, 1,817 crypto machines were installed worldwide in the first two months of the year. This is markedly less than in January-February 2021, when 2,435 such self-service machines were installed worldwide. In 2020, 760 crypto machines were installed during the same period, and 250 were installed in 2019.

One of the main reasons for the slowdown may be market saturation – 95% of cryptocurrencies (34,248) are now installed in North America. In 2022, 93% of all new devices were installed in the United States. In Europe, in January-February, the number of cryptomats even decreased by one machine. This is due to the complexity of doing business in different jurisdictions.

Now there are 36,067 crypto machines in the world. The figure will continue to grow, as, for example, El Salvador alone plans to increase the number of such devices from 207 to 1,500 in a year. In November, it was reported that Bitcoin Latinum intends to install 100,000 cryptomats in the United States.

My opinion

I think that cryptocurrencies will become popular again due to the events in Ukraine. So this decline is temporary.

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Written by Kannnaf Mysterious
I am a very innovation-dependent form of life. I'm smart, but I don't wear glasses. I solve the Rubik's Cube in less than a minute. Probably the best beggy cryptomaniac in the world and my hobby is to start the day thinking that bitcoin will rise to $100k. To The Moon!
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