Agentic payments surpass 100M transactions on Coinbase's Base

Agentic payment activity on Coinbase’s Base network has topped 100 million transactions, a sign that machine-to-machine payments are moving beyond proof-of-concept. Chainalysis data shows wallets using the x402 protocol generated that volume on Base within roughly nine months of launch.

The x402 protocol lets software agents make onchain payments directly through web requests. When an agent requests access to a resource such as a data feed or API, it can complete a stablecoin payment automatically, without human authorization. Much of x402’s early growth came from a memecoin experiment called PING, which required such a payment to mint tokens and drew large numbers of users; activity eased after the PING surge but usage persisted and volumes stabilized while the value of transfers rose.

In early 2025, transfers worth more than $1 accounted for roughly 49% of the total value moved through x402; by early 2026 that share had climbed to 95%, suggesting the protocol is shifting beyond micropayments.

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