Based on Forklog, on-chain activity in Coinbase's x402 protocol increased over 10 times in a month, according to Dune data. Between October 20 and 26, 932,440 transactions worth $913,888 were processed, compared to 46,574 in September. The number of unique x402 asset buyers reached 61,290, while sellers totaled 372. x402 is a payment tool for stablecoin transactions and enables autonomous deals by AI agents. Developers are using the protocol to launch memecoins, and CoinGecko added a category for x402-based coins. The sector's market cap rose 345% in a day to $770 million, with EingenCloud leading in volume at over $115 million. KuCoin Ventures noted that x402 is becoming a tool for token launches, and developers are exploring use cases such as API provider tokens, facilitator assets, and speculative trading. The surge coincided with a 2025 a16z report predicting $30 trillion in agent AI transactions by 2030.
Coinbase x402 Protocol Transaction Volume Surges 10,000%
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