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Audius price prediction: What is audius?

By Peter Henn

14:11, 14 October 2022

AUDIO logo
Audius aims to put music streaming on the blockchain - Photo: Shutterstock

It aims to power a blockchain-based streaming system, but what is audius (AUDIO)? Let’s take a look and see what we can find out, and also examine some of the audius price predictions that were being made as of 14 October 2022. 

Audius explained

There have been several major technological developments over the course of the last 10 years or so. One of them is, of course, the blockchain. This technology, designed to store and transfer data in a manner that is, at least ideally, secure, transparent and decentralised, is the core of both decentralised finance (DeFi) and of cryptocurrency as a whole.

Another thing that has taken off over the course of the last decade has been online music streaming platforms. The idea that, for a small fee – or even for free, so long as you don’t mind listening to a few adverts – you can access the majority of recorded music has, understandably, become hugely successful. Although the music business and the artists without whose creativity none of this would be possible have suffered, fans have flocked in their droves to sign up to the likes of Spotify (SPOT) and Apple Music.

With those two things being as big as they are, it is perhaps little surprise to learn that there have been attempts to combine the two, and the Audius platform is just one of them. This system, which is based on the Solana (SOL) blockchain, is designed to give people access to music in a manner that is more blockchain friendly.

Founded by San Francisco-based crypto entrepreneurs Roneil Rumburg and Forrest Browning in 2018, the system utilises computers, or nodes. There are two types of node, content and discovery. Content nodes store and relay audio data, while discovery nodes keep a hold of users profiles and playlists. 

Away from the more technical side of things, Audius operates much like a music streaming service should, with the chance to discover music, create custom playlists and so on.

Every blockchain-based system needs to have its own native crypto, and Audius has the audius token, also known by its ticker handle of AUDIO. This crypto is used to reward the people who run the nodes on the network. In return, people who want to serve as nodes will need to stake AUDIO in order to gain privileges. Also, people who hold the AUDIO crypto are able to vote on proposed changes to the network’s ecosystem while the token can also be bought, sold, or traded on exchanges.  

Because the AUDIO crypto is based on Ethereum (ETH) – unlike the Solana-based Audius platform – that means that it is a token, rather than a coin. You might see references to such things as an audius coin price prediction, but these are wrong. 

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Audio price history

AUDIO price historyAUDIO price history from launch to present - Credit: Capital.com

Let’s now cast our eyes over the AUDIO price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some very important and useful context when it comes to either interpreting a audius price prediction or else making one of our own. 

AUDIO first came onto the open market in October 2020, trading at about $0.48. It soon dropped to below $0.20, but the first few months of 2021 were a really bullish time for cryptocurrency, and the token responded well, reaching an all-time high of $4.99 on 27 March that year. It then slid down the price scale and, following a period in the middle of the year when it fell below the dollar, it resumed to peak above $3 in August. After that, though, there was a steady downhill climb and it closed 2021 at $1.60. 

XRP/USD

0.59 Price
-1.810% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,504.28 Price
-0.690% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

SOL/USD

173.93 Price
-0.610% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

DOGE/USD

0.13 Price
-2.110% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

While 2021 was a good year for both crypto and AUDIO in particular, the reverse appears to be true of 2022 so far. Despite a Spring rally that culminated in a high of $1.79 on 4 April, the token has taken a hit. A series of market crashes saw it slump to a low of $0.2617 on 18 June. The following month the news came out that the Audius system had fallen victim to a hack, weakening market confidence. Despite having experienced a small recovery, it sank down again and, on 14 October 2022, the AUDIO token was trading at a little under $0.19. At that time, there were 830,924,708 AUDIO in circulation out of a total supply of 1,128,867,308, giving it a market cap of around $157m, making it the 148th largest crypto by that metric. 

Audius price predictions

With that all over and done with, let’s take a look at some of the audius price predictions that were being made as of 14 October 2022. It is important to remember that price forecasts, especially when it comes to something as potentially volatile as cryptocurrency, very often end up being wrong. Also, it is worth pointing out that long-term crypto price predictions are often made using an algorithm, which means that they can change at a moment’s notice.

First, CoinCodex made a short-term audius price prediction for 2022 that said the token could well drop in the not too distant future, suggesting it could slide down trade at $0.163269 on 19 October before plummeting to $0.054973 by 13 November. Fittingly, the site’s technical analysis for the AUDIO token was bearish, with 17 indicators sending negative signals against 15 making bullish ones.  

Next, PricePrediction.net had an AUDIO price prediction that suggested it could trade at $0.21 this year, $0.29 next year and $0.23 the year after that. By 2025, the site said, AUDIO could potentially be worth around $0.63, reaching $0.88 the following year and breaking through the dollar barrier to stand at a potential $1.31 in 2027. By 2028, the forecast argued that the crypto could be worth $1.92, before it went on to reach $2.79 at the end of the decade. The site then went on to make an audius price prediction for 2030 of a potential $3.90, before claiming it could reach $5.45 in 2031. 

Meanwhile, CoinsKid made an audius crypto price prediction that said AUDIO could rise over the coming months to trade at $0.2274 in December 2022 before continuing to grow to stand at $0.0.3612 in October 2023 and $0.9511 a year from then. The site then made an audius price prediction for 2025 that said the token could start the year having broken past the dollar to trade at a potential $1.08, before possibly reaching $1.79 in October. The site said that AUDIO could possibly close the year at $2.40 – more than double what it was predicted to be worth in January – before going on a bumpy ride in 2026 to close that year at $2.43.

Finally, Gov Capital had an AUDIO price prediction which featured both disaster and redemption for the token. The site said that the price of audius could drop, sinking to a level so low as not to be worth recording by 6 December 2022. However, that was not to say that it thought it was necessarily going to become a dead coin. This is because the site made a forecast that said the token could be worth $1.96 by 14 October 2023, and then continue to grow to trade at a potential $5.24 in five years time.

When considering an AUDIO token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.

FAQs

Is audius a good investment?

It is hard to say. A lot will depend on whether the platform can grow its audience, whether it can recover the confidence of investors post hack, and on what happens to the market as a whole. 

Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets. So investors should be prepared to make losses and never purchase more than they can afford to lose.

Will audius go up or down?

It is hard to say. Sites such as CoinCodex take a very dim view of the crypto’s chances going forward, while the likes of PricePrediction.net are far more upbeat, optimistic and bullish. Meanwhile, places like Gov.Capital are somewhere between the two, claiming things will get worse before they get better. It is important to remember that price predictions very often end up being wrong, and that prices can go down as well as up. 

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether AUDIO is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Should I invest in audius?

Before you decide whether or not to invest in the Audius platform, you should research not only AUDIO but other online streaming services. Keep in mind that the system has recently fallen victim to a hack, too. 

Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.

Markets in this article

ETH/USD
Ethereum / USD
3504.28 USD
-24.38 -0.690%
SOL/USD
Solana / USD
173.9288 USD
-1.0531 -0.610%
SPOT
Spotify Technology SA (Extended Hours)
299.05 USD
7.1 +2.470%

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