Coinbase CEO Says X402 Transactions Soar 10,000% In A Month

Coinbase CEO Brian Armstrong said X402, the online payments protocol that enables AI agents to transact over the internet, is ”growing like crazy” as transactions surged more than 10,000% in a month.

When Coinbase launched x402 in May, it said that the protocol “fixes the internet’s first mistake” by resurrecting the Internet Communication Protocol’s Hypertext Transfer Protocol 402 to create a seamless payment system native to the internet. 

The protocol makes it possible for AI agents and humans to pay directly in stablecoins while using a website or app.

Transaction activity on the protocol skyrocketed in October. Data from Dune Analytics shows that between Oct. 14 and Oct. 20, there were 500,000 transactions on the protocol, which is a 10,780% increase compared to levels seen four weeks earlier. 

X402 Sets Two New Records

Transaction activity continued to soar this week. On Thursday, transaction value on the x402 protocol reached a record $332,000 in value, and 24 hours later it was a record 239,505 transactions, additional Dune Analytics data shows. 

“X402 growing like crazy,” said Armstrong in an Oct. 25 post on X. 

KuCoin Ventures said in an X post that the x402 payment rail saw over 19,000 users join in a single day. 

Use a payment protocol as a Launchpad? 🚀

Coinbase-backed open-source payment rail x402 just exploded—19K+ users in a single day, 128K txns, $124K in volume 🔥

x402 bakes payments into vanilla HTTP request-response:
Client hits endpoint → Server 402’s back with `x402-PayTo`… pic.twitter.com/INykohDlxw

— KuCoin Ventures (@KuCoinVentures) October 24, 2025

CoinGecko Lists x402 Tokens As A New Category

Developers have also recently been leveraging x402’s design to launch tokens directly. This has led to a wave of x402-powered meme coin launches, according to KuCoin Ventures. 

The recent surge in the number of x402 meme coins has seen crypto market tracker CoinGecko launch a new category on its platform that tracks the market for these tokens. 

Market category tracking x402 meme coins (Source: CoinGecko)

According to CoinGecko, the total market cap for x402 meme coins has soared over 260% in the past 24 hours, and stands at over $177.98 million.

Some of the top performers in the past 24 hours include FREGO, Capminal (CAP) and Karum (KARUM).

FREGO soared more than 152% in the past day of trading, extending its weekly gain to over 321%. 

Meanwhile, CAP and KARUM pumped more than 89% in the last 24 hours.

Agentic Transactions Could Reach $30 Trillion By 2030

The surge in x402 activity comes as venture capital firm a16z’s crypto arm highlighted agentic AI in its State of Crypto 2025 report earlier this week.

“Protocol standards such as x402 are emerging as a potential financial backbone for autonomous AI agents, helping them make micro-transactions, access APIs, and settle payments without intermediaries — an economy that Gartner estimates could reach $30 trillion by 2030,” the firm said in its report.

X402’s growth also comes amid a stablecoin market boom, which was ignited by the signing of the GENIUS Act by US President Donald Trump in July.

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