Automata Network price prediction: What is Automata Network (ATA)?

Can Automata Network rise above the bear market?

ATA                                 
Can Automata Network make the blockchain truly private? - Credit: ata.network
                                

Contents

Automata Network is a system which does a very specific thing, and ATA is its native token. But what is Automata Network (ATA)? Let’s see if we can find out, and also keep our eyes open for an Automata Network price prediction, too. 

Automata Network explained

Web 3.0 is a concept that, depending on how you look at it and who you ask, it either happening before our very eyes or is about to happen, probably. If Web 2.0 was all about users using other people’s websites to create their own content, Web 3.0 is about people taking control of their own data through blockchain technology. This is all well and good – after all, if it were not for the blockchain, there would be no cryptocurrency – but that is not to say that there are no potential problems with Web 3.0. For instance, there are still some concerns about how private blockchain technology is, especially when it comes to bridging the gap between the chain itself and the decentralised applications, or DApps, that operate on it. 

Automata Network aims to solve this issue. By creating privacy-based middleware, technology to allow applications to do things they otherwise would not be able to do on the de facto operating system that is the blockchain, it aims to create a privacy-first ecosystem which can, potentially, cross blockchains. 

The network has its own native token, ATA, which is used in a number of ways. People can stake ATA in order to act as a validator node, checking transactions on the network. They can also stake in order to serve as a geode, a type of node which, in effect, protects users data and helps ensure the system is kept private. People are also able to buy, sell, and trade ATA on crypto exchanges. Holding ATA is also needed in order to vote on changes to the network, but Automata Protocol uses a system called Witness which, it claims, means that all votes are truly private. As the system put in a blog post: “With Witness, users participate in governance without having to give away their anonymity, and this freedom is exactly what Web 3.0 is all about – a fairer space where users regain control of their own data, identity and destiny.”

A couple of things that we should mention at this stage. First, while Automata Network was founded in 2019, with ATA coming onto the open market in the summer of 2021, there are no named founders. All we know about them is that, according to the system’s website, is that some of them previously worked at Zilliqa, LongHash, and the National University of Singapore. Secondly, ATA is based on the Ethereum blockchain, which means that it is a token, rather than a coin, technically speaking. That said, you will hear references to the Automata Network token. Don’t worry, it’s the same thing. 

ATA price history

It’s now time to cast our eyes on the ATA price history. While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can help give us some very important context if we want to either make or interpret an Automata Network price prediction.

ATA first came onto the open market in June 2021. This was a pretty bearish time for crypto, with the market suffering following the Great Crypto Day Crash of 19 May that year. Although the coin reached what still serves as an all-time high of $2.55 on 7 June, it was soon to crash down to below the dollar, in an initial slump that saw it trade at a low of $0.3405 on 20 July. In August, though, the market picked back up, with a boost caused, at least in part, by a growing interest in non-fungible tokens (NFTs). ATA responded in kind, going from $0.6001 on 24 August to a high of $1.95 the following day, a rise of nearly 225% in the course of around 24 hours. The upward movement was not over and it reached a periodic high of $1.99 on 28 August before it fell back down to close the month at $1.38. September was a time of relative lows for ATA, and it closed the month at $0.8279 before October saw things get better, with the token spending large portions of the month at over $1 on its way to a close of $1.07. In early November, the market went through a boost as Bitcoin traded at record levels and ATA responded well, reaching a periodic high of $1.74 on 11 November.

After this, though, the market contracted somewhat, as concerns over the omicron variant of Covid-19 took hold, and it closed the month at $1.13. There was more downward movement in December and, crucially, it traded at above the dollar for the last time on 3 December, as it went to close the year at $0.6265.

ATA price history
Automata Network price history - Credit: Currency.com

In 2022, the cryptocurrency market has experienced a famine after the feast of 2021 and the price of ATA has dropped accordingly. By the end of January, it was down to $0.399, while any hopes for a renewal in February were dashed after Russia invaded Ukraine on 24 February when it fell to a low of $0.3689. There were some crumbs of comfort, though, as it closed the month ever so slightly up from the end of January to $0.3992. March was a month of ups and downs, but the token caught the rising winds of a bull run late on and it closed the month at $0.4884 on its way to a periodic high of $0.5387 on 2 April. After that, though, the Chinese crypto ban and a weak market saw it fall to end April at $0.2777. While there seemed to be recovery in early May, with ATA reaching $0.3168 on 5 May, things soon fell apart.

The depegging of the UST stablecoin and the collapse of the associated UST stablecoin saw the market enter a tumultuous time and ATA traded at an all-time low of $0.1259 on 12 May. There was some fightback after this, though, and it closed the month at $0.1808.

At the time of writing, the recovery process was still ongoing and, on 20 June, it was worth about $0.2046, having risen by around 40% from the previous day’s low of $0.1464. This came not long after it was announced that ATA would, at some point, be listed on the Coinbase network.

As of 20 June 2022, there were a little over 172.25 million ATA in circulation out of a total supply of one billion. This gave it a market cap of around $35m, making it the 426th-largest crypto by that metric.

Automata Network price prediction

With that all out of the way, let’s take a look at the Automata Network price prediction. At this stage, it is important to note that price forecasts, especially for something as volatile as cryptocurrency, can very often be wrong. Also, it is important to understand that long-term crypto price predictions are often made using an algorithm, which means that they can change at a moment’s notice.

First, UpToBrain has an ATA price prediction which sees the token’s value shoot up nearly ten times this year, with it scoring $2 in 2022. Next year, the token should drop down a bit to $1.56. In 2024, ATA should be worth $1.92, while the site makes an Automata Network price prediction for 2025 of $2.18, while the following year it should be worth $2.26.

Next, TechNewsLeader is a bit more bearish about its Automata Network coin price prediction, at least in the short term suggesting ATA should drop slightly to $0.19 this year. There will be some recovery, though, and it should get to $0.28 in 2023, $0.42 in 2024 and $0.60 in 2025. By 2026, the token should be worth $0.87 and it should break through $1 the following year to stand at $1.23 before it gets to $1.84 in 2028. ATA should close the decade at around $2.68, before the site makes an Automata Network price prediction for 2030 that sees it trade at $3.78, with it reaching $5.44 in 2031.

Meanwhile, CoinArbitrageBot has an Automata Network price prediction for 2022 that says ATA should get to a little over $0.56 this year before rising to just below $1.01 in 2023. In 2024, the token should be worth around $1.63 before it trades at $2.63 in 2025.

Finally, WalletInvestor’s Automata Network crypto price prediction is somewhat downbeat, arguing that the ATA token will be worth $0.0172 by June 2023.

Final thoughts

A few things before we finish. Firstly, there is always going to be a bit of a worry for some investors when a cryptocurrency does not say who its founders actually are. That does not mean that Automata Network will be totally off-limits – after all, Bitcoin’s founder remains at the very least pseudonymous – but there may well be some potential investors who will take their money into somewhere where they know who to hold responsible for what is happening.

Secondly, Automata Network offers what is probably a very useful service but the fact remains that it is rather niche, at least for the time being. We will have to see if it can expand into the more mainstream parts of the world of blockchain. Finally, we have to remember that we are currently in a bearish market. While there is nothing to say that ATA won’t ever break through past its current level, it may not happen for a little while yet, so you should be patient. As ever with crypto, you will need to be careful if you want to invest in Automata Network.

FAQs

How many Automata Network are there?

As of 20 June 2022, there were a little over 172.25 million ATA in circulation out of a total supply of one billion.

Is Automata Network a good investment?

It might be but, with the crypto market having turned decidedly bearish in 2022 so far, it may be a little while before you see a return on your investment. You will have to do your own research before you invest in ATA.

Will Automata Network go up?

Supporters of buying during the dip might well tell you that cryptos like ATA, which has lost value over the last 12 months, are worth looking into. On the other hand, it has been in a bearish place for some time now. Regardless, you will need to remember that cryptocurrencies can be highly volatile and prices can go down as well as up. You will need to do your own research and never invest more than you can afford to lose.

Should I invest in Automata Network?

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

Further reading

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