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NEWT Crypto Drops 44% After Big Exchange Listings
On June 24, a new crypto token called NEWT was listed on Binance, Coinbase, and several other major exchanges like Bybit, KuCoin, and Upbit. This launch was part of its Token Generation Event (TGE), where the total supply of 1 billion NEWT tokens was officially created.
Out of this, 100 million tokens were airdropped (given for free) to early users of the Newton/Kaito ecosystem. These tokens could be claimed right after the launch.
Also, 12.5 million tokens went to Binance users who held BNB between June 14–17. These were also unlocked and added to users' wallets during the launch.
After launching at $0.49, the price of NEWT quickly jumped to $0.82—a 67% increase. But soon after, it crashed 44% down to $0.46, as many users sold their free tokens to take profit. This kind of price drop is common after airdrops.
What is Newton Protocol?
Newton Protocol is a blockchain project built by Magic Labs, the company also known for its work on crypto wallets.
It lets users assign tasks to AI agents in a secure and verifiable way, using special tech like zero-knowledge proofs. This means the system can prove that tasks were done exactly as users wanted—without revealing private info.
NEWT is the main token of this system. It’s used for:
Paying fees
Joining governance (voting)
Validator staking
Updating access rights
Magic Labs raised about $90 million from investors like PayPal Ventures and Polygon to support the project.
Despite the price drop, Newton’s token plan is designed for the long-term. For example:
60% of tokens are set aside to grow the community
Team tokens are locked for 1 year, then slowly released over 3 years
Quarterly transparency reports will be shared by the Magic Newton Foundation
So while the launch was volatile, the project says it’s built for long-term value.
#MarketRebound #BinanceSquareTalks #Newtcoin #Polygon #CoinbaseEffect
Out of this, 100 million tokens were airdropped (given for free) to early users of the Newton/Kaito ecosystem. These tokens could be claimed right after the launch.
Also, 12.5 million tokens went to Binance users who held BNB between June 14–17. These were also unlocked and added to users' wallets during the launch.
After launching at $0.49, the price of NEWT quickly jumped to $0.82—a 67% increase. But soon after, it crashed 44% down to $0.46, as many users sold their free tokens to take profit. This kind of price drop is common after airdrops.
What is Newton Protocol?
Newton Protocol is a blockchain project built by Magic Labs, the company also known for its work on crypto wallets.
It lets users assign tasks to AI agents in a secure and verifiable way, using special tech like zero-knowledge proofs. This means the system can prove that tasks were done exactly as users wanted—without revealing private info.
NEWT is the main token of this system. It’s used for:
Paying fees
Joining governance (voting)
Validator staking
Updating access rights
Magic Labs raised about $90 million from investors like PayPal Ventures and Polygon to support the project.
Despite the price drop, Newton’s token plan is designed for the long-term. For example:
60% of tokens are set aside to grow the community
Team tokens are locked for 1 year, then slowly released over 3 years
Quarterly transparency reports will be shared by the Magic Newton Foundation
So while the launch was volatile, the project says it’s built for long-term value.
#MarketRebound #BinanceSquareTalks #Newtcoin #Polygon #CoinbaseEffect
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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