Polygon-Backed NEWT Token Plummets 44% Post Binance & Coinbase Listing—What Went Wrong?
NEWT, the crypto project backed by Polygon Ventures, just face-planted after its big exchange debut—down 44% despite Binance and Coinbase listings. Was this a classic 'buy the rumor, sell the news' play, or did the hype machine oversell another vaporware token?
Exchange listings were supposed to be the moon ticket. Instead, traders got a one-way trip to rekt city. The irony? Getting listed on top-tier exchanges is now the kiss of death for overleveraged altcoins.
Pro tip: When VCs cash out before the retail FOMO even starts, maybe—just maybe—your 'long-term hold' is actually a hot potato. Stay sharp out there.
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.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
