Polygon Ventures-backed NEWT crypto crashes 44% after Binance and Coinbase listings
NEWT, the native token of Newton Protocol — a ZK-powered automation layer — saw its price tumble 44% shortly after being listed on major crypto exchanges, including Binance, Coinbase, and Bitget.
The token made its official debut on Binance on June 24, coinciding with its Token Generation Event (TGE). This launch was swiftly followed by spot listings across other leading platforms such as Coinbase, Bybit, Upbit, KuCoin, MEXC, Gate.io, Bithumb, and Bitget.
NEWT’s TGE set a fixed total supply of 1 billion tokens. Of this, 100 million NEWT was distributed as an airdrop to early users of the Kaito/NEWT ecosystem, including snapshot participants and active users on partner platforms. The airdrop, coordinated by the Magic Newton Foundation, was fully unlocked and claimable at launch.
Additionally, 12.5 million NEWT — representing 1.25% of total supply — was airdropped to Binance users who held BNB in Simple Earn, Locked Earn, or the BNB Vault between June 14 and 17, 2025. These tokens were fully unlocked and deposited directly into users’ spot wallets at TGE.
NEWT initially surged 67% from its starting price of $0.49, peaking at $0.82 within hours. However, the rally was short-lived, as heavy profit-taking — likely from airdrop recipients — triggered a sharp reversal, pushing the token down to $0.46.