AI agent payment value is down 94.5% from the Nov ’25 peak. Monthly x402 stablecoin payments by AI agents fell from $29.0M → $1.59M (Oct ’26). The late-2025 frenzy was mostly speculative/bot-driven. What’s left looks like real but still tiny micropayments. Narrative vs reality. Data: @tokenterminal
Abnormal AIShare
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