Chainalysis Reports Massive Growth in Agentic Commerce Transactions
Chainalysis counted more than 138 million x402 transactions on Base in the 12 months to 1 July 2026, and said U.S.-linked wallets made up 88.1% of geolocated payments for AI model inference. It also found that more than 87% of x402 payments in the 16 months to September were worth between a hundredth of a cent and US$0.10.
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Users and builders who rely on AI model access payments would notice that x402 activity is already large and geographically concentrated, with U.S.-linked wallets dominating the identified flows. That makes the Base and Coinbase-linked payment rail visible in day-to-day AI access billing, at least for the transactions Chainalysis identified.
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