TechFlow News: On March 11, according to CoinDesk, x402—an AI-powered payment protocol backed by Coinbase—aims to embed stablecoin micropayments into the internet’s communication layer to enable automated payments between AI agents. However, on-chain data shows the protocol currently processes only about $28,000 in daily transaction volume, with roughly half of those transactions being tests or “wash trades,” not genuine commercial activity. Although the ecosystem’s valuation stands at approximately $7 billion (including Chainlink’s LINK token), actual usage remains severely disconnected from this valuation. Analysts note that x402’s true value will only become apparent once AI-driven, pay-per-use services achieve widespread adoption—meaning the current narrative around agent-based payments is clearly outpacing real-world adoption.
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