吴说获悉，据 Allium 数据，x402 的早期卖家（2025 年 9 月）的首个月留存率为 55.7%，5 个月的留存 率仍维持约 10%；然而在 x402 火热之后（2025 年 10 月后）所进入的卖家留存率在第二个月时已降低 至接近为 0。 阅读原文 （来源：吴说） ...

吴说获悉，据 SolanaFloor 数据报告显示，随着 x402 微支付竞争加剧，Solana 目前占据约 49.7% 的 x402 交易份额，较本月初一度超过 88% 的峰值明显回落，主要受 Polygon 竞争加速影响。数据显示， 全链 x402 累计交易笔数已超过 1.2 亿，其中 Solana 贡献超 4500 万笔，累计支付金额超过 4100 万美 元，Solana 占约 1640 万美元。周度数据方面，Solana 的 x402 交易量已从 2025 年 12 月约 680 万笔高位 下降逾 90%，至 2 月 9 日当周不足 51 万笔。 （来源：吴说） ...

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors rebound after strong jobs report; BTC +1% at $68,000 BlackRock lists its BUIDL Fund on Uniswap, buys UNI tokens Coinbase launched agentic wallets, natively supporting x402 Analysts slash COIN targets ahead of today’s Q4 earnings call Lighter becomes first DEX ...

Core Insights - Coinbase has developed the first crypto wallet infrastructure specifically designed for AI agents, named Agentic Wallets, which allow users to equip agents with autonomous spending, earning, and trading capabilities [2][8] - The Agentic Wallets aim to overcome limitations faced by AI agents, which can recommend trades or identify necessary APIs but cannot execute transactions without human approval [3][9] - This new offering builds on Coinbase's previous tool, AgentKit, and utilizes the x402 payments protocol, which has already processed over 50 million transactions, enabling machine-to-machine payments without human intervention [8] Product Features - Agentic Wallets provide user protections such as session caps to limit the maximum spending per session and controls on individual transaction sizes [9] - The wallets are part of a broader initiative to support agentic commerce, following the launch of "Payments MCP," which gives AI agents access to on-chain financial tools [9] Industry Context - The importance of digital identity measures for AI agents in the Web3 space is highlighted, emphasizing the need for portable, composable, and verifiable identities to navigate interactions safely [10] - Verifiable on-chain identities are seen as essential for simplifying interactions between AI agents and humans, as well as between AI agents themselves, thereby enhancing trust and reducing the risk of misrepresentation [11]

Core Viewpoint - Solana is transitioning from a memecoin phase to a micropayments powerhouse, with a price forecast of $2,000 by 2030 according to Standard Chartered [1][10]. Group 1: Price Forecasts - Standard Chartered has lowered Solana's price target for 2026 to $250 from $310, while currently trading at $102 [2][10]. - Future price projections include $400 by the end of next year, $700 by the end of 2028, $1,200 by 2029, and $2,000 by the end of 2030 [3]. Group 2: Micropayments Potential - Micropayments, defined as small transactions allowing pay-per-use models, are seen as a key area where crypto can provide solutions [4]. - Traditional payment processors charge high fees, making micropayments economically unfeasible; for example, Stripe charges approximately $0.30 per transaction [8]. Group 3: Competitive Advantage of Solana - Solana's median transaction fee is $0.0007, significantly lower than Base's average gas fee of $0.015, making micropayments viable [7]. - The low transaction costs of Solana threaten traditional payment processors, as they enable micropayments that were previously not possible [10]. Group 4: Stablecoin Usage - The market value of stablecoins on Solana has grown rapidly, with about $13 billion currently in circulation, and they are used more frequently for payments compared to Ethereum [11]. - Increased micropayment activity using SOL-stablecoins on Solana is expected to drive up the price of SOL [11].

Core Insights - OwlTing is integrating with the x402 ecosystem to enable merchants to accept payments from AI agents, addressing a gap in the market for compliant payment processing for AI-initiated transactions [3][4][5] Group 1: Company Overview - OBOOK Holdings Inc. operates as OwlTing Group, a global fintech company with a diversified ecosystem across payments, hospitality, and e-commerce [10] - The company is headquartered in Taiwan and has subsidiaries in multiple countries, including the United States, Japan, and Singapore [10] - OwlTing was ranked among the top 2 global players in the "Enterprise & B2B" category in the digital currency sector as of 2025 [10] Group 2: Product and Technology - OwlTing's OwlPay Checkout solutions are designed to verify AI-initiated payment requests and settle transactions instantly in regulated digital or fiat currencies [4][6] - The x402 standard allows AI agents to initiate payments, while OwlTing provides the necessary infrastructure for merchants to receive these payments [5][7] - The integration aims to facilitate a seamless transition from digital instructions to recognized revenue with minimal human intervention [6][7] Group 3: Market Opportunity - AI-driven traffic to retail websites in the U.S. surged by over 4,700% over the past year, indicating a significant shift towards AI-driven commerce [7] - McKinsey estimates that the transition to Agentic Commerce could represent up to US$1 trillion in the U.S. B2C retail sector by 2030, with a global opportunity of US$3 to 5 trillion [7][8] - Trust and compliance are critical for capturing this market volume, and OwlTing holds Money Transmitter Licenses in 39 U.S. states and other regulatory licenses in Europe and Japan [9]

Core Insights - Dexter has gradually replaced Coinbase as the largest facilitator in terms of daily transaction volume since mid-December, capturing approximately 50% of the market share [1] - Currently, there are four x402 facilitators that have cumulatively processed over 10 million transactions, which are Coinbase, Dexter, PayAI, and DayDreams [1]

RT OpenMid (@OpenMid_)🚀 Big update for x402 developers today at OpenMid.OpenMid Facilitator is now live on Base Mainnet!You can now register an agent to the ERC-8004 registry directly inside the x402 payment flow, and run everything for free with sponsored facilitation.More details below 🧵 ...

Core Viewpoint - Coinbase is undergoing its largest transformation to reposition itself as a mainstream trading and financial platform, expanding beyond cryptocurrency into broader retail investment areas [2][12]. Group 1: New Product Offerings - Coinbase announced the launch of significant new products aimed at creating a "one-stop financial app," which will include stocks, advanced trading tools, and prediction markets [2][12]. - The company is also increasing its investment in its on-chain ecosystem and providing new tools for enterprises, developers, and automated finance [2][12]. Group 2: Market Competition - The prediction market space is becoming crowded, with competitors like DraftKings, FanDuel, and Polymarket entering the market, highlighting the competition between regulated channels and crypto-native liquidity [4][14]. - Coinbase's CEO emphasized that the appeal of prediction markets lies not only in trading but also in insights into public sentiment and future developments [4][14]. Group 3: Tokenization Strategy - Coinbase is developing a tokenization roadmap to bring more traditional assets, including stocks, onto the blockchain, with the launch of Coinbase Tokenize aimed at supporting real-world asset tokenization [5][15]. - The CEO stated that trading stocks is a "good first step," but the ultimate goal is to enable tokenized stocks, democratizing access to markets [6][16]. Group 4: Business Expansion - Coinbase is broadening its narrative to include not just retail trading but also services for enterprises and developers, with Coinbase Business opening to qualified clients in the U.S. and Singapore [8][18]. - The company is launching an expanded API suite covering custody, payments, trading, and stablecoins [8][18]. Group 5: Industry Perspective - The CEO argues that cryptocurrency is not a niche category but part of an upgrade cycle for the financial system, suggesting that all major asset classes will eventually transition to the blockchain [9][19]. - Coinbase is positioned as a central platform in this transformation, with signals from major asset management firms indicating a desire to move funds onto the blockchain [9][19]. Group 6: Strategic Focus - The overarching strategy for Coinbase is "retention" and "diversification," aiming to keep its large crypto-native audience engaged across all asset classes, even as cryptocurrency trading volumes decline [10][20].

Core Viewpoint - Coinbase is undergoing its largest transformation to reposition itself as a mainstream trading and financial platform, expanding beyond cryptocurrency into broader retail investment areas [1] Group 1: New Product Launches - Coinbase announced the launch of significant new products aimed at creating a "one-stop financial app," expanding its offerings to include stocks, advanced trading tools, and prediction markets [1] - The company is also increasing its investment in its on-chain ecosystem and providing new tools for enterprises, developers, and automated finance [1] - The CEO, Brian Armstrong, aims to make the platform a place where users can trade "everything," including stocks and tokenized traditional assets [1][4] Group 2: Competitive Landscape - The prediction market space is becoming crowded, with competitors like DraftKings acquiring their own exchanges and FanDuel collaborating with CME [2] - Armstrong highlighted the appeal of prediction markets not just for trading but for insights into public sentiment and future developments [2] Group 3: Tokenization Strategy - Coinbase is launching Coinbase Tokenize, a technology stack aimed at supporting the tokenization of real-world assets (RWA) [3] - The ultimate goal is to democratize access to tokenized stocks and unlock new market structures, including more robust futures markets linked to stocks [4] Group 4: Broader Financial System Integration - Armstrong emphasized that cryptocurrency is not a niche category but part of an upgrade cycle for the financial system, suggesting that all major asset classes will eventually transition to on-chain [6] - Coinbase is positioning itself as a central platform in this transformation, with signals from major asset management firms indicating a desire to move funds on-chain [6] Group 5: Retention and Diversification Strategy - The overarching strategy for Coinbase is to retain its large crypto-native audience while diversifying across asset classes, even as cryptocurrency trading volumes cool and trading revenues compress [7]