Coinbase’s new open payment system, x402, is turning heads after soaring 10,000% in just one month. What started as a quiet experiment in onchain payments has grown into one of the most talked-about tools in crypto.
The protocol, built by Coinbase’s developer team, lets anyone send and receive payments directly through the internet’s standard HTTP request. This is the same process websites use to load pages.
Instead of clicking through multiple wallets or sign-ins, users simply make a request, get a “payment required” notice, send the payment, and the server confirms it.
x402 growing like crazy
link in thread https://t.co/xAghleCzJq
— Brian Armstrong (@brian_armstrong) October 24, 2025
This makes x402 fast, automatic, and nearly invisible to the user. No middlemen. No long wait times. Just pure, programmatic payments over the web.
From Payments to Token Launches
Developers quickly saw potential beyond simple payments. Many have started using x402’s structure to launch new tokens directly onchain. Because payments and confirmations happen instantly, it’s now being called the “Launchpad killer”. It offers fair, transparent token launches with minimal setup.
According to data shared by KuCoin Ventures and Wu Blockchain, daily activity around x402 has exploded. More than 19,000 new users joined in a single day, driving over 128,000 transactions and roughly $124,000 in trading volume.
The broader x402 ecosystem now holds a market cap of about $830 million, with 24-hour trading volumes near $250 million. Popular assets tied to the trend include EIGEN, BNKR, FLOCK, PAYAI, and PING.
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
x402 shows how simple design can unlock new ways to use blockchain. By bringing payments directly into internet protocols, Coinbase may have opened the door to a new wave of machine-to-machine and microtransaction commerce.
According to CoinGecko data, the x402 ecosystem has a market capitalization of $830 million, with a 24-hour trading volume of approximately $250 million. The top-ranked assets by market cap are primarily infrastructure tokens such as EIGEN, BNKR, and FLOCK, while recently popular…
— Wu Blockchain (@WuBlockchain) October 27, 2025
This news showcases that Coinbase’s recent efforts in becoming a major hub for new projects is paying off. Coinbase recently acquired Echo with plans to make it easier to bring startup fundraising on-chain. Now, with x402, Coinbase is delving into simplifying payments even further.
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