State of x402 · independent audit · every facilitator, every chain

The x402 economy is $400k a month.
The chain counts $882k*. We audit the difference.

45% organic55% filtered out

* raw = x402stats’ own unfiltered sum of on-chain USDC received by indexed seller wallets, last 30 days, across 10+ facilitators. No single tracker publishes this figure; comparable raw totals on public dashboards range ~$0.8M–$1.1M depending on windowing and coverage. how we count →

x402 is how AI agents pay for things — USDC micropayments over HTTP 402. Raw on-chain totals count wash trading, self-dealing and facilitator settlement wallets as revenue. x402stats indexes every facilitator and chain, filters all of it, and publishes both numbers: only 45% of the last 30 days’ raw volume is organic.

$400k
raw* $882k
organic volume, 30 days
184
raw* 29.0k wallets
organic sellers — businesses actually earning
$22k
10% wk
daily volume, trailing week
7.0k
7% wk
paying agents (unique buyers), trailing week
daily average
$0.10
median seller revenue, 30 days
half of all sellers earn less
67%
of volume sits in 10 wallets
concentration, unfiltered

daily x402 volume · USDC · all facilitators · unfiltered

latest $5k
$1.3M$2.5M$3.8M$5.0MMayJulSepNov2026MarMayJul

Nov 2025 spike: the artificial-volume era — the reason organic filtering exists.

daily active sellers

latest 873
5.0k10.0k15.0k20.0kMayJulSepNov2026MarMayJul

daily paying agents (buyers)

latest 2.8k
25.0k50.0k75.0k100.0kMayJulSepNov2026MarMayJul

facilitator market share · daily volume

coinbasemrdnpayAIfluxarelaianyspendxechodexter
$6.3M$12.5M$18.8M$25.0MMayJulSepNov2026MarMayJul

Who clears x402's payments — the browser-wars chart of machine commerce.

methodology · 2026-07-01.v1

Organic = wallets with ≥$100 revenue in the window, ≥3 distinct buyers, average payment ≥$0.001 — excluding facilitator settlement wallets (Meridian, RelAI, FluxA) whose flows are throughput, not seller income. Sources: on-chain USDC transfers across 10+ facilitators, Coinbase CDP and facilitator discovery registries. The raw series is published unfiltered alongside. Full methodology →

cite:“x402stats — State of x402, x402stats.io” · data CC BY 4.0 · CSV · JSON · llms-full.txt