The global count of cryptocurrency ATMs is witnessing a significant resurgence, with the number of machines installed so far in 2024 nearing its all-time high. As of now, 2,564 new cryptocurrency ATMs have been added this year, poised to surpass the 2,861 machines that were removed in 2023, marking a positive turnaround in the market.

According to data from Coin ATM Radar, the total number of cryptocurrency ATMs worldwide has surged by 17.8% over the past year, reaching 38,279 machines. This figure is edging closer to the record high of 39,541 ATMs set in December 2022, indicating a strong recovery after last year's decline.

Monthly installations have shown consistent growth from July 2023 to May 2024. Although there was a slight dip in installations between May and June 2024, with a decrease of 115 machines, the market rebounded robustly in June, adding a net total of 377 ATMs.

Leading the charge in the cryptocurrency ATM space are prominent operators like Bitcoin Depot, Coinflip, and Athena Bitcoin, boasting 7,543, 5,057, and 2,756 machines respectively. Bitcoin remains the most popular cryptocurrency transacted through these ATMs, followed by Bitcoin Cash, Ether, and Litecoin.

The United States dominates the global cryptocurrency ATM landscape, housing over 82% of the world's machines. Canada follows with 7.7% of the global share. Australia has experienced a dramatic increase in installations, expanding nearly 17-fold to 1,107 machines in the last two years. This growth positions Australia to potentially overtake Europe's tally of 1,584 ATMs.

Several other countries have also seen significant growth in cryptocurrency ATM installations. Spain has 313 machines, Poland 279, El Salvador 215, Germany 177, and Hong Kong 169. Additionally, Romania, Georgia, Switzerland, Austria, and New Zealand each have more than 100 ATMs. Out of the 193 United Nations-recognized countries, 72 now host cryptocurrency ATMs, reflecting the expanding global footprint of this technology.

The market faced a significant downturn between December 2022 and July 2023, with the number of installations dropping to an 18-month low of 32,764. This decline was partly due to a 26% reduction in net installations by BitAccess, a leading cryptocurrency ATM manufacturer, whose numbers fell from 9,160 in August 2022 to 6,774 in January 2024. However, BitAccess has since recovered, increasing its net installations by 1,208.

Overall, the cryptocurrency ATM market is on a strong recovery path, with 2024 installations demonstrating renewed growth and optimism. The increasing number of ATMs worldwide underscores the growing acceptance and integration of cryptocurrencies into everyday financial transactions.