virtuals protocol holds 75% of erc-8004 agent identities. 10,912 agents registered vs 14,500 total across ethereum. x402guard processed $200k usdc revenue in 48 hours from real agent-to-agent payments. not token speculation. actual fee capture. transaction volume dropped 92% since december but virtuals registration rate staying above 300/month means the quality filter is working. this is infrastructure revenue not narrative trading. ...