Bitcoin Up Nearly 5%, Moving at $31,000 as Number of Bitcoin ATMs Drops

The Bitcoin price rose 4.46% to $31,306.54 in Asia this morning (June 7).

Bitcoin’s uptick this morning came after the Dow Jones Industrial Average was up 16 points on Monday (June 6).

  • The Dow Jones Industrial Average rose 16.08 points, or 0.05%, to close at 32,915.78 points.
  • The S&P 500 rose 12.89 points, or 0.31%, to close at 4,121.43.
  • The Nasdaq rose 48.64 points, or 0.40%, at 12,061.37 points.

Movements in the Crypto Space

Recently, the number of installed “Bitcoin ATMs” is the lowest it has been in three years.

Bitcoin ATMs fell 89.75%, the lowest in three years, amid economic and political tensions.

Data from Coin ATM Radar shows a decline of 89.75%, the largest drop since 2019.
By May 2022, only 202 new bitcoin ATMs had been installed, a third more than last year.

Key factors contributing to the slowdown in bitcoin ATM adoption include global political and economic tensions. In addition, there are unclear laws against cryptocurrencies and cryptocurrency opponents, as well as the impact of the recent COVID outbreak on business.

There are a total of 37,826 Bitcoin ATMs worldwide. 87.9% of them are located in the United States and 3.8% in Europe, which corresponds to approximately 1,419 devices.

Genesis Coin is a major Bitcoin ATM manufacturer with 41% of the global market share. Other manufacturers with significant market shares are General Bytes 21.6%, BitAccess 16%, Coinsource 5.4% and Bitstop 4.7%.

The Spot Market is Open

Tuesday, June 7, 2022

Crypto
Updated at
USD
Price

Change

%Change
14.00 BTC29,507.25-1,963.39-6.24
14.00 ETH1,754.69-129.54-6.87
14.00 LTC61.35-3.54-5.46
14.00 BNB282.64-20.72-6.83
14.00 XRP0.39-0.01-2.40
14.00 ADA0.58-0.02-3.97
14.00 DOT9.08-0.62-6.42
14.00 DOGE0.08-0.00-3.79
14.00 UNI5.10-0.21-3.90
14.00 LINK7.58-0.32-4.05

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