The much-anticipated launch of Magic Newton’s native $NEWT token took place on June 24, serving as a significant milestone for the PayPal and Polygon-supported Automated Finance (AutoFi) project.
Upon its debut, the token was priced at $0.524 across major exchanges, quickly attracting considerable interest in the market.
Source: CoinMarketCap
Although the project has employed a noteworthy listing strategy that many regard as exceptional for a new launch, the market performance of $NEWT has exhibited notable volatility.
After an early surge of 30% above its listing price, reaching a peak of $0.8337, the token experienced a substantial correction of 46%, trading at $0.4515 at the time of reporting.
Coinbase, Binance, and Tier-1 Exchange Support Fuels Magic Newton’s Ambitions
The launch strategy of $NEWT set itself apart through simultaneous listings on top-tier centralized exchanges, which is uncommon for new projects.
On its first day, the token was listed on notable platforms including Binance and Coinbase, along with prominent Korean exchanges Upbit and Bithumb, and key global platforms like Bybit, Bitget, KuCoin, MEXC, and BingX.
$NEWT is currently live on the following exchanges:
Coinbase https://t.co/5BZ8ry8aup
Upbit https://t.co/Cr49OcCgj2
Binance https://t.co/KLAphAhRdJ
Bybit https://t.co/BCeCf8Jj7T
Bithumb https://t.co/XyGdYw3i3X
Bitget https://t.co/bwj8P8eMFw
Gate https://t.co/F6upmPpq5I
KuCoin… pic.twitter.com/YZOGjGoXY4
— Magic Newton Foundation (@newtfoundation) June 25, 2025
This extensive exchange backing propelled the token’s market capitalization to a peak of $156 million during its inaugural trading session.
The coordinated launch approach resulted in impressive trading volumes, with over $890 million in activity within the first 24 hours, significantly exceeding the token’s prevailing market cap of $96 million.
Magic Newton, operating under Magic Labs, has successfully raised around $90 million from a roster of prominent investors, including PayPal Ventures, Digital Currency Group (DCG), Volt Capital, Polygon, and notable individuals such as Balaji Srinivasan.
Since its inception in 2018, the company has established a strong presence in the crypto infrastructure sector, developing embedded wallet solutions utilized by major platforms like Polymarket, WalletConnect, Helium, and Forbes.
Sean Li, founder of Magic Newton, highlighted the company’s extensive experience, stating their seven-year commitment to enhancing user onboarding and building trust, notably through collaborations with Fortune 500 companies and large-scale applications.
We spoke with @_seanli about why now is the right time to develop @MagicNewton.
"We’ve spent the last 7 years on the front lines for onboarding and trust, working with Fortune 500 companies and large-scale apps like @Polymarket."
"This is the first time I feel like everything is aligning."… pic.twitter.com/l39uMvdntD
— The Rollup (@therollupco) June 24, 2025
The Newton protocol appears to be Magic Labs’ latest initiative aimed at tackling perceived issues in the cryptocurrency user experience through AI-driven solutions.
Technical Framework Enhances Magic Labs’ Automated Finance (AutoFi)
The decentralized infrastructure of Magic Newton integrates trusted execution environments (TEEs) with zero-knowledge proofs (ZKPs), facilitating automated on-chain financial operations.
This platform aims to cultivate what the company refers to as a “decentralized economy of verifiable agents,” with $NEWT functioning as the protocol’s gas fee for creating or terminating private, verifiable on-chain sessions and intents directed to Newton agents.
@magic_labs has launched @MagicNewton, an #AI agent platform designed for autonomous finance and streamlined #crypto management on @Base #blockchain. https://t.co/pJKYJMqLZV
— Finance Newso.com (@Finance Newso) May 7, 2025
The AutoFi feature allows users to implement automated dollar-cost averaging (DCA) strategies for various cryptocurrencies, including Bitcoin and Ethereum.
Users have the flexibility to schedule recurring purchases—hourly, daily, weekly, or monthly—through AI-driven automation.
Since its official launch in May, subsequent to extensive testing, Magic Newton has seen over 1.1 million enrollments, processed 747,000 verified agent transactions, and activated over 362,000 AutoFi agents.
The numbers for https://t.co/CPC9jReaPx are impressive.
1m → 1.1m signups (+100k)
463k → 747k verified agent transactions (+284k)
280k → 362k activated agents (+82k)
We have achieved significant milestones in just six weeks since launch. Imagine the potential once we harness the insights from our recurring buy agents and… pic.twitter.com/liIwESmY2r
— Newton (@MagicNewton) June 18, 2025
Magic Newton Token Distribution Controversy: Influencers Reap Rewards While Early Testers Miss Out
The disclosed tokenomics indicate that only 0.9% of the total supply of 215 million $NEWT tokens went to the top 1,000 accounts on the social platform Kaito, a move that has prompted backlash from the community.
Source: Magic Newton Foundation
Reports on social media have revealed that several crypto influencers were granted significant allocations, with one influencer claiming $5,300 in $NEWT tokens and another announcing an allocation of over 38,000 tokens worth more than $30,000 at the peak price.
Many Kaito participants reportedly received allocations ranging from $10,000 to $30,000 in $NEWT tokens.
In stark contrast, early supporters who had obtained over 5,000 credits through initial quests on the platform and held roles in the Discord community did not qualify for any token distributions.
Furthermore, Binance Alpha participants and BNB holders who did not engage in testnet activities or Kaito discussions received a mere 125 NEWT tokens each.
This distribution model has drawn widespread criticism for being unfair, as it seems to favor influencers and high-profile accounts while sidelining genuine early adopters and testers who contributed to the platform’s growth.
Magic Newton’s airdrop appears to have favored Binance Alpha, BNB holders, and active Kaito users while excluding the core users of the technology.
There needs to be a more balanced approach.
Top 1000 accounts do not represent the community.
— Wendy J (@Jessicalevi13) June 24, 2025
The broader crypto community now watches to see if Magic Newton can maintain its robust user base and showcase real utility for the $NEWT token beyond speculative trading.
The post PayPal-Backed Magic Newton Token NEWT Plunges 46% Despite Coinbase and Binance Listing Debut appeared first on Finance Newso.
