The State of x402
Independent market data on the x402 agent-payments economy, built from our own daily snapshots of the Coinbase Bazaar discovery catalogue. Every figure below is measured, not estimated — including the ones that are unflattering to the ecosystem. Snapshot: 2026-08-14.
Higher prices do not cost you customers
The common instinct is to price at a fraction of a cent to attract agents. The data does not support it. Across every paid band, roughly the same share of listings receives traffic — but the revenue differs by more than an order of magnitude. The $0 band is excluded below because it earns nothing by definition, which makes a revenue comparison against it meaningless.
| Price band | Listings | Got paid calls | Est. 30-day revenue |
|---|---|---|---|
| Micro (≤$0.005) | 5,768 | 100% | $204.67 |
| Cheap ($0.005–$0.05) | 6,072 | 99% | $2,573.09 |
| Mid ($0.05–$0.50) | 2,009 | 100% | $2,392.77 |
| Premium ($0.50–$5) | 340 | 100% | $1,804.90 |
| High ($5+) | 63 | 100% | $12,143.88 |
What agents actually buy
Ranked by unique paying wallets, not call count. This matters: the loudest endpoints in the catalogue are often a merchant calling itself. A listing with tens of thousands of calls from one or two payers is not demand — it is traffic.
| Merchant | Unique payers | Calls | Price |
|---|---|---|---|
| api.onesource.io | 794 | 796 | $0.0030 |
| api.onesource.io | 784 | 800 | $0.0050 |
| api.onesource.io | 746 | 1,128 | $0.0010 |
| api.onesource.io | 718 | 721 | $0.0030 |
| api.onesource.io | 644 | 695 | $0.0080 |
| api.onesource.io | 579 | 580 | $0.0030 |
| api.onesource.io | 564 | 574 | $0.0030 |
| api.onesource.io | 553 | 557 | $0.0030 |
| api.onesource.io | 552 | 558 | $0.0050 |
| api.onesource.io | 551 | 563 | $0.0050 |
Most listings do get paid traffic
146 listings — 1% of the catalogue — took no paid call in thirty days. 57 of them (39%) are priced at $0, against the 33% share that $0 listings hold in the catalogue overall. Among the 14,252 listings that charge anything, 0.6% took no call.
On this snapshot a $0 price is not by itself a predictor of being ignored: free listings are dead at close to the rate their share of the catalogue would imply. Price is not what separates the dead from the live here. The dead listings we sample share mundane, fixable traits: a blank service name, or a description too thin for an agent to match on. Discovery is not the hard part; being selected is.
Want this for your own listings?
The same dataset powers our paid endpoints: a visibility audit that scores your listings against the catalogue, an authenticity check that separates real demand from self-traffic, and pricing guidance drawn from what actually sells.
Browse the API catalogue →Method: daily snapshot of the Coinbase Bazaar x402 discovery catalogue, taken once every 24 hours and archived — the discovery API itself keeps no history, so the archive is the only record of how the catalogue changed. GMV is estimated as 30-day call count × listed price and will understate merchants using dynamic pricing. Call and payer counts are self-reported by the discovery API. The API returns one row per accepts entry, so a resource offered on several networks arrives duplicated; listings are deduplicated on (recipient, resource) before any figure on this page is computed, which removes ~3.6% of raw rows. Vibe Springs is itself a merchant in this catalogue and is included in every figure above, including the unflattering ones.