TREE NEWS reports: Payments through Coinbase’s x402 protocol surged from about 1,500 in mid-2025 to more than 138 million by Q3 2026. U.S. wallets dominated spending on AI models, and most transactions were tiny. The data marks a sharp jump in machine-to-machine payments settled on-chain.
AI Agents Made 138 Million Crypto Payments in a Year: Chainalysis
AI take
The headline number matters less than the mix: millions of transactions at tiny average size points to metered, per-call payments rather than treasury-style transfers, which is a genuinely different on-chain use case. The U.S. wallet concentration suggests demand is still shaped by where AI model access is priced and billed, not by global distribution. What's worth watching is whether this volume stays concentrated in a handful of model and agent operators, or whether smaller services begin settling the same way.
Generated by AI for reference only.
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