Coinbase’s x402 transactions explode over 10,000% in a month

Coinbase's x402 protocol, introduced in May to allow AI agents and humans to transact autonomously using stablecoins over the internet, has experienced a massive surge, with transaction activity increasing by over 10,000% in the last month. Data from Dune Analytics showed nearly 500,000 transactions between October 14 and 20, marking a 10,780% rise compared to four weeks prior, with record daily transaction volume also recently posted. The protocol resurrects the HTTP 402 "Payment Required" status code to create a native internet payment system where users receive a prompt and send an automatically verified signed stablecoin payment, eliminating the need for credit cards. This growth aligns with industry anticipation, as a16z’s crypto arm predicted autonomous transactions could reach $30 trillion by 2030. Furthermore, developers are leveraging x402's design to launch new tokens, leading to a boom in x402-powered memecoins, prompting CoinGecko to track x402 tokens as a new ecosystem valued near $180 million.

(Source：Cointelegraph)