Millions of x402 payments mask a much smaller AI agent economy

Chainalysis revealed on October 14 that Coinbase’s Base network had handled over 138 million x402 transactions . The achievement indicates more usage of the HTTP 402 payment network, but it does not provide much information about the number of autonomous AI agents involved in these transactions or if the sellers received sustainable income. More than 87% of sampled payments were worth $0.0001–$0.10. Such tiny charges suit pay-per-use services better than credit cards. Wallets receiving fresh funds may suggest ongoing activity. But it does not necessarily mean anyone is making a profit.

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