Agentic payment activity tops 100M transactions on Base
Agentic payment activity on Coinbases Base network has surpassed 100 million transactions, signaling that machine-to-machine payments are moving beyond the proof-of-concept stage in onchain environments. According to a new Chainalysis report, wallets interacting with Coinbases x402 protocol generated more than 100 million transactions on Base within roughly nine months of launch. The x402 protocol allows software agents to make onchain payments directly through web requests. When an agent requests access to a resource, such as a data feed or API, it can automatically complete a stablecoin payment without human authorization. Much of x402s early growth was driven by a memecoin experiment called PING, which required users to make a payment through the protocol to mint tokens. The project attracted large numbers of users looking to acquire the token, triggering a surge in transaction activity. Although activity moderated after the PING frenzy subsided, usage did not collapse. According to Chainalysis, transaction volumes have stabilized while the value of transfers has increased. In early 2025, transactions worth more than $1 accounted for roughly 49% of total value transferred through x402. By early 2026, that figure had climbed to 95%, suggesting that the protocol was moving beyond micropayments. Cumulative agentic transfer volumes on Base. Source: Chainalysis Onchain data points to
