x402 protocol crossed 3m transactions and $3m usdc volume with 200,000% weekly growth. coinbase processes 88% of all transactions through their facilitator. brian armstrong name-dropped it on earnings but that's also the problem. protocol succeeds and coinbase owns the toll booth. decentralized facilitators launching q1 2026 is your catalyst to watch. ...

$meridian allocating 70% of fdv to lifetime cashback on x402 protocol transactions. starting at 2% cashback, decays with volume. smart money accumulating per nansen data. x402 tokens with actual revenue mechanics trading at $10-50m caps. ones with just narrative already at $500m+. market hasn't figured out which tokens capture fees vs which ones just exist ...