Coinbase's x402 protocol has experienced a dramatic 10,780% increase in transaction activity on Ethereum over the past month. The protocol, which allows AI agents to autonomously execute stablecoin transactions, recorded nearly 500,000 transactions between October 14 and 20, according to Dune Analytics. A peak of 239,505 transactions occurred on a single Friday, with a transaction volume reaching $332,000 on Thursday.
The x402 protocol utilizes the HTTP 402 status code to enable instant, verified payments without traditional intermediaries like credit cards. By leveraging Ethereum's infrastructure, it facilitates atomic and programmable transactions, enhancing the efficiency and security of digital payments.
Coinbase x402 Protocol Sees 10,780% Surge in Ethereum Transactions
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