According to Blockbeats, the token $PING on Base has surged over 8x in 24 hours, reaching a market cap of over $30 million. PING is the first token issued via the x402 protocol, an open payment protocol developed by Coinbase that allows AI agents to autonomously execute transactions. The minting process of PING resembles the 2023 Bitcoin inscription trend, as it relies on a centralized indexer, x402scan, to determine valid mints by scanning USDC transactions sent to specific addresses. Analyst Haotian suggests that PING's emergence could signal the start of a new 'inscription' wave, similar to how Bitcoin inscriptions evolved, with potential for further innovation and competition among protocols.
PING Surges Over 8x in 24 Hours, Could x402 Protocol Spark a New 'Inscription' Trend?
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