Coinbase’s x402 Transactions Rise 10,000% in a Month

Coinbase's x402 protocol, launched in May, enables AI agents to transact autonomously in stablecoins, and has experienced an astonishing 10,000% increase in transaction activity within a month. The x402 protocol restores the Internet Communication Protocol's Hypertext Transfer Protocol 402 (HTTP 402) to establish a seamless online payment system. This allows both AI and humans to make payments directly through websites and apps, eliminating the need for credit cards. From October 14 to 20, nearly 500,000 x402 transactions were recorded, a 10,780% surge compared to four weeks prior. On peak days, over 239,000 transactions occurred, generating significant transaction volume. The rise in x402 activity coincides with a16z's projection of autonomous transactions potentially reaching $30 trillion by 2030. Furthermore, the burgeoning ecosystem around x402 tokens, recently recognized by CoinGecko, has grown to nearly $180 million, indicating a wave of new applications and tokens being developed. Developers note Ethereum’s suitability for HTTP 402 implementation due to its programmable policies and composable wallets.

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