Polygon Ventures-backed NEWT crypto crashes 44% after Binance and Coinbase listings

NEWT, the native token of the ZK-powered automation layer Newton Protocol, experienced a sharp price drop following its listing on major cryptocurrency exchanges, including Binance and Bitget.

On June 24, NEWT was officially listed on Binance, marking the token’s Token Generation Event. It was quickly followed by spot listings on Coinbase, Bybit, Upbit, MEXC, Gate.io, KuCoin, Bithumb, and Bitget.

The TGE established a fixed total supply of 1 billion NEWT tokens. Of this, 100 million NEWT was allocated to early users of the Kaito/NEWT ecosystem, including snapshot participants and active users on partner platforms. This airdrop, managed by the Magic Newton Foundation, was fully unlocked and claimable starting June 24.

In addition, 12.5 million NEWT or 1.25% of the total supply was distributed to Binance users who held BNB in Simple Earn, Locked Earn, or the BNB Vault between June 14 and 17, 2025. These tokens were also fully unlocked at TGE and credited directly to eligible users’ spot wallets.

Following the TGE, the token initially rallied, surging by 67% from its launch price of $0.49 to $0.82 within hours. However, the trend quickly reversed with NEWT falling 44% to $0.46, likely due to immediate profit-taking from airdrop recipients.

Such post-airdrop sell-offs are common in early-stage token markets and often result in short-term volatility.

Despite the initial market reaction, Newton Protocol’s tokenomics reveal a structured and long-term alignment strategy.

According to the project’s official disclosures, 60% of the total NEWT supply has been earmarked for community-focused initiatives, including ecosystem development, user incentives, and growth programs. The Magic Newton Foundation is responsible for governing these allocations and issuing quarterly transparency reports.

All team and contributor allocations are subject to a 12-month lock-up, followed by 36 months of linear vesting, ensuring that internal stakeholders cannot immediately sell their holdings.

What is Newton Protocol?

Newton Protocol is a ZK-powered on-chain automation infrastructure developed by Magic Labs, a Web3 infrastructure company known for pioneering embedded wallet technology and serving as the founding development team behind Newton.

Magic Labs plays a critical role in developing the protocol’s verifiable automation framework, contributing the core open-source codebase and leading ecosystem design through its affiliated entity, the Magic Newton Foundation.

The protocol enables secure task delegation to AI agents using verifiable automation, combining Trusted Execution Environments and zero-knowledge proofs to ensure every action is cryptographically proven to follow user instructions.

“Our number one priority is making verifiable automation accessible via a system built on fairness that users can count on,” Mohammad Akhavannik, Managing Director at Magic Newton Foundation, told crypto.news.

NEWT serves as the utility and governance token within the Newton ecosystem, powering validator staking, automation fee payments, access control updates, and governance participation.

Earlier this year, Newton raised roughly $90 million from notable backers including PayPal Ventures, Polygon, and Magic Eden to build out its infrastructure and accelerate ecosystem adoption.