Bitcoin Halving Impact Fades as Demand Takes Center Stage
According to reports, the Open Interest in Bitcoin is now 30 times higher than it was 11 days before the 2020 Bitcoin halving.
As cryptocurrencies and Bitcoin (BTC)continue to grow and adoption continues to increase, options to buy crypto are also growing. Data from Coin ATM’s Radar has offered insight into the growing rate of cryptocurrency ATMs across the world – highlighting the adoption of crypto.
2021 especially has seen extraordinary growth in how many ATMs selling cryptocurrency have been installed across the world. Since the beginning of the year, there has been a near 72% growth with over 24,000 ATMs available for Bitcoin and crypto sales. In 2020, the ATMs across the world more than doubled with over 7600 crypto ATMs installed. With the nearly 120% growth in machines, it puts a spotlight on how the industry performed as well as how users are taking to use the physical machine to purchase cryptocurrency.
Charted by Coin ATM Rader, the growth of global ATMs has been exponential over the past three years. At the beginning of 2018, there were 2,075 ATMs available, which grew to 4,112 in 2019. At the beginning of 2020, the space had 6,372 ATMs where users could buy cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash, Monero and others. If the trajectory continues, the world will see a massive influx of ATMs soon – with more countries likely coming on board to offer the option of buying crypto at an ATM.
Over the past year, the country leading the ATM crypto space is the United States with nearly 50 ATMs installed each day – according to data collected in the last week. As it stands, there are now 20,748 crypto ATMs in the United States. Out of the 24, 006 (at the time of writing), this makes America the leading country by far. However, ATMs are available across 75 different countries including the United Kingdom, Canada, Spain, Switzerland and Austria.
According to the data, Genesis Coin is behind more than 40% of the ATMs manufactured while General Bytes is behind 24% of the market. Other manufacturers in the space include BitAccess, Coinsource, Bitstop and Bytefederal.