Autonomous AI agents have conducted more than 138 million transactions on Coinbase’s Base network via the x402 protocol, according to a new report from blockchain analytics firm Chainalysis. That is up from about 1,500 transactions in mid-2025, reflecting the rapid growth of what is being called agentic commerce.
The x402 protocol lets software automatically pay for digital services—including data, computing power and AI model access—with cryptocurrency. More than 87% of the transactions were valued between one-hundredth of a cent and 10 cents.
These small payments suit blockchains and stablecoins, which can process transactions too small to be economical on traditional payment rails. Wallets linked to the U.S. accounted for 88.1% of geographically identifiable payments for AI model access.