- The four most important pillars behind the creation of $BEN Coin Collective are Adoption, Education, Representation, and Fair News.
- The Ben Token was able to reach the all-time high in just 1 month from its launch in early May and reach the all time high on May 25, 2025.
- The firing of Armstrong adversely affected the fall in the price of Ben Token.
Ben, or BEN, is a cryptocurrency that operates on the Ethereum platform. Being based on Ethereum, it is referred to as a token and not a coin. It was created in 2023 as a tribute to YouTube star Ben BitBoy Armstrong.
BenToken aimed to promote the understanding and adoption of crypto. Armstrong had taken on the responsibility of promoting the token since its inception but was fired in August last week.
The main emphasis of BenToken is on education, advocacy, transparency, and representation of the crypto space. It intends to create a future where digital assets are valued for their potential and are widely used.
It is supported by a group called $BEN Coin Collective. The group aims to promote use cases for crypto assets, advocate for broader adoption, and ensure that retail investors have a voice in shaping policies that affect the crypto industry.
Working of Ben
Ben has not issued any technical documentation or whitepaper to explain how it works. The main purpose of Ben is to raise money for unspecified crypto awareness programs.
Armstrong has arranged an “Ask Me Anything” session in June 2023 to explain the Ben token. In the session, he also mentioned that Ben would be running Super Bowl commercials and that he would not sell his BEN holdings.
Four Pillars of BEN Cryptocurrency
To address the key challenges in the crypto space, Ben Token has specified four pillars: Adoption, Education, Representation, and Fair News.
Adoption
To increase the adoption of crypto, BenToken facilitates its integration into various industries and showcases its benefits. Ben Token focuses on building strategic partnerships, sponsorships, and marketing campaigns to promote cryptocurrency. It also tries to position $BEN as a gateway into decentralized finance (DeFi) and blockchain.
Education
The next crucial element for Ben Token is Education. The BEN project aims to develop accredited educational courses for crypto and build platforms through which current and future generations have access to all the reliable and trustworthy information in the world of crypto.
The main aim of the BEN project, which offers education courses, is to empower and accommodate individuals with the required knowledge and skills to act safely in the crypto space and make informed decisions.
Representation
Ben Token supports pro-crypto politicians, policies, and regulations, irrespective of party or political loyalty, to commit to Representation.
The project provides funding and backing to influence the decisions of users and create a regulatory environment. It is done to support the growth and development of cryptocurrencies and blockchain technology.
Fair News
Through the fourth pillar of Fair News, Ben Token aims to address the issue of biased information in the crypto world. The project works to establish a media and news network that seeks to provide accurate, uncensored, and factual information to the crypto community.
By doing this, Ben Token aims to promote transparency and ensure that all individuals have access to correct and reliable news to facilitate informed decisions.
The objective of $BEN Coin Collective is to bridge the gap between the crypto ecosystem and retail investors. Additionally, it acknowledges the developing potential of crypto assets and aims to generate maximum benefit from them.
Representing the interests of retail investors in regulatory matters promotes the aim of the group to create an inclusive and sustainable environment for the increased adoption of crypto assets.
The four pillars of the group collectively aim to empower individuals with the necessary knowledge and tools to make informed decisions in the crypto space.
Tokenomics
The current and total circulating supply of Ben tokens is 420.69 trillion. Ben has a total supply of 1 quadrillion. 50% of the total supply is burned at the beginning. There is a 2% fee for each transaction, which is also burned.
As per the current data as of a particular day in November 2023, the current market cap of Ben is close to $9.78 million and ranks 1038 among all the known crypto assets. The rank is calculated as per the popularity, which is based on the relative market cap.
Roadmap for BEN Project
The initiatives of BEN crypto projects are as follows:
Crypto Education
A comprehensive set of educational resources, workshops, and online courses will be developed and launched. In order to accommodate individuals with the knowledge and skills required to act in the world of crypto safely and confidently.
Advocacy and Adoption
Public awareness campaigns will be conducted, and merchant adoption will be supported to increase adoption of crypto and promote its mainstream acceptance. Strategic partnerships will also increase.
Community Governance
To make sure that the project is accountable, dependable, and responsive to the needs of the community, diverse steps might be taken. These steps include the establishment of community mechanisms, the implementation of transparent financial reporting, and setting up open communication channels.
Regulatory Engagement
Policymakers will be engaged in conducting policy research, and industry stakeholders will collaborate with policymakers to form favorable regulatory frameworks and policies. These policies and frameworks will be developed to support the growth and development of the crypto industry.
The achievement of this roadmap will be dependent on the group’s dedication and commitment to revolutionizing the crypto landscape. Interested individuals or investors need to follow the company’s milestones, current ventures, and future plans.
Buying of Ben Token
Ben tokens can be traded on both centralized and decentralized crypto exchanges. The most popular crypto exchange to trade Ben is MEXC and the most active trading pair is BEN/USDT. Other popular options are BitMart and Uniswap V3.
Ben has marked its all-time high on May 25, 2023, at a value of $0.000000270425 and markets its all time low on August 31, 2023, with a value of $0.00000013948.
Conclusion: Plans for Q4 2023
The activities that are planned for Q4 2023 include the development of community initiative voting, the launch of integrated educational campaigns, the creation of crypto adoption teams, and starting with crypto workshops. In this quarter, the group will also announce its roadmap for 2024.
At the end of 2023, it will be interesting to watch if the company is able to complete all the activities or not, and whether the future plans will drive the prices and value for the coming quarter and fulfill the investor’s expectations or not.