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Automata Network price prediction: Gains for privacy-focused ATA

By Raphael Sanis

09:10, 1 October 2022

ATA on a phone screen
ATA is a governance and utility token for the privacy-focused Automata Network – Photo: Shutterstock

Automata Network’s ATA cryptocurrency has started to rise after a new product was launched on the privacy-focused Web3 ecosystem.

ATA has gained 29% over the past week, though it was still down 73% year-to-date, as of 30 September.

ATA to USD

What is Automata Network?

Automata Network is offering privacy-focused products for Web 3.0 platforms. It claims to have noticed a lack of transparency in data ownership, and is creating infrastructure that tackles this.

Its CoinMarketCap page said: “Automata Network aims to be recognized as the go-to privacy service for DeFi and Web3 with its proposition of privacy middleware.”

Automata Network’s privacy products integrate seamlessly with already existing blockchain platforms and were designed with Web 3.0 in mind.

For example, AnyDAO is a private governance service. It lets investors vote in decentralised autonomous organisations (DAO)with off-chain capabilities and low-cost . This product is supported on networks based on Ethereum (ETH), BNB Chain, and Ethereum Virtual Machine (EVM).

Another of its products is 2FA Guru. This offers a two-factor authentication service (2FA) for blockchains, which protects users and secures wallets.

The ATA token

Automata Network is powered by its ATA cryptocurrency, a BEP-20 and ERC-20 token. It was designed with several uses in mind. ATA first acts as a governance token, where holders can submit and vote on proposals impacting the future of the platform.

It also finances the platform, as users pay a fee for storage and computational tasks. This fee is then sent to ATA miners, who run these applications and process the transactions.

At the time of writing, on 30 September, there was a circulating supply of 172 million ATA. This gives it a market capitalisation of $29m, ranking it 466th out of all cryptocurrencies.  

ATA price history

ATA went live at $1.80 on 7 June 2021 and immediately rocketed to its all-time high of $2.55 on the same day.  

ATA's all-time performance

Source: CoinMarketCap

But the luck did not stay with the cryptocurrency. It plummeted below its launch price, falling to a low of $0.34 on 20 July.

XRP/USD

0.63 Price
+4.730% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

SOL/USD

180.10 Price
+2.950% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,378.89 Price
-3.120% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

DOGE/USD

0.13 Price
-0.450% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

ATA managed to start climbing again in August. This came after  Coin98 announcing support for the token and Automata Network hosting a promotional event with a $2,500 prize pool.  The cryptocurrency reached a high of $1.99 on 28 August.

ATA saw another rise in November, during the bull market for Web 3.0 and metaverse networks. The ATA token was listed on the KuCoin exchange on 10 November and it hit a high of $1.74 the following day.

The token then proved vulnerable to the 2022 bear market, falling throughout the year. It dropped to its all-time low of $0.12 on 12 May, after the crypto crash.

ATA has climbed slightly recently after it launched a new product. 1RPC is a free and private remote procedure call (RPC), which essentially communicates data between computer servers and users. Automata Network’s solution immediately discards metadata after a blockchain action is completed, whether that is buying an non-fungible token (NFT) or viewing your balance.

As of 30 September, ATA was trading at $0.17, up 29% in the past seven days, but still down 73% year-to-date.

Automata network price prediction

At the time of writing, CoinCodex’s ATA price prediction said the current sentiment was netural, whereas the fear and gread index was displaying “extreme fear”.

This has led to a pessimistic forecast. CoinCodex’s automata network price prediction for 2022 suggested the token would have dropped by 19% to $0.13 on 29 October.

On the other hand, there were some bullish longer-term automata network coin price predictions. TechNewsLeader predicted ATA would have reached a maximum price of $0.28 in a year and $0.87 in five years’ time. The site’s automata network price prediction for 2030 said the token may have climbed to $3.78.

Similarly, PricePrediction said ATA could have averaged out at $0.16 this year. Its automata network price prediction for 2025 gave a maximum price of $0.55. This is predicted to have increased to $2.91 in 2030.

Gov Capital was not as hopeful for the cryptocurrency. Its automata network crypto price prediction said ATA could become worthless in a year.

When considering a ATA token price prediction, it is 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. Never trade with money that you cannot afford to lose.

FAQs

Is Automata Network a good investment?

Automata Network is developing an ecosystem of privacy-focused products for the Web3 era. Its ATA token is up in the short-term after the release of a new product, but it is still down 73% year-to-date.

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 the ATA token 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. If you cannot afford to lose it, do not risk your money

Will Automata Network go up or down?

It depends on who you ask. CoinCodex’s fear and greed index was showing “extreme fear” with a fall of 19% predicted. Meanwhile, a steady climb was anticipated by both PricePrediction and TechNewsLeader.

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 ATA 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 Automata Network?

Whether you should invest in ATA 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 put at risk any money that you cannot afford to lose, because prices will go down as well as up.

Markets in this article

ETH/USD
Ethereum / USD
3378.89 USD
-108.79 -3.120%

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