What role does ATP play in the cell?

During oxidation within a cell, all the energy contained in respiratory substrates is not released free into the cell, or in a single step. It is released in a series of slow step-wise reactions controlled by enzymes, and it is trapped as chemical energy in the form of ATP. Hence, it is important to understand that the energy released by oxidation in respiration is not (or rather cannot be) used directly but is used to synthesize ATP, which is broken down whenever (and wherever) energy needs to be utilized. Hence, ATP acts as the energy currency of the cell. This energy trapped in ATP is utilized in various energy-requiring processes of the organisms, and the carbon skeleton produced during respiration is used as precursors for biosynthesis of other molecules in the cell.