Micropayments have long been considered one of the most promising, yet most difficult to implement, scenarios for blockchain. Traditional financial systems do not handle frequent small transactions well. Fixed fees and settlement delays make such operations unprofitable.
The x402 protocol offers a different approach. It is an open architecture built around the HTTP code 402 Payment Required. Its goal is to embed direct and programmable payments at the Internet protocol level.
Rapid Growth of Solana in X402 Transaction Share
X402 transaction share by blockchain, weekly dynamics. Source: Dune Analytics
Since the end of 2025, the x402 protocol has been rapidly gaining momentum across different blockchains. According to Dune Analytics, the total number of x402 transactions across all networks has already exceeded 120 million. The largest accumulated volume is on Base. More than 70 million operations. Solana has over 45 million.
However, the overall statistics do not reflect the current dynamics. If you look at weekly figures, it becomes clear that Solana has been gradually increasing its share of transactions.
In the week starting December 8, 2025, the Solana network processed about 5.8 million x402 transactions. This is more than Base for the same period, which processed about 5.3 million operations.
At the beginning of 2026, the trend intensified. In the week of February 2, Solana accounted for more than 88% of all x402 transactions among supported networks.
But then the market structure began to change. After a sharp increase in activity on the Polygon network over the past week, Solana’s share dropped to 49.7%. This highlights the growing competition among blockchains trying to establish themselves as the main infrastructure for micropayments.
Transfer Volumes Confirm Concentration in a Few Networks
X402 transaction volume by blockchain, weekly dynamics. Source: Dune Analytics
In addition to the number of operations, it is important to look at the volume of funds transferred. This provides additional insight into how the network is actually being used.
The total volume of funds processed through x402 transactions has already exceeded $41 million across all supported blockchains.
By total volume, Base currently leads. About $21.5 million has passed through this network. Solana is in second place with more than $16.4 million.
The peak weekly activity occurred in the week of November 10, 2025. At that time, transfer volumes exceeded $5.3 million.
After that, the figures dropped significantly. Over the past week, the total volume across all networks fell below $220,000. This is a sharp decline compared to previous highs.
Facilitators Play a Key Role in Processing Transactions
In the x402 ecosystem, the facilitator layer remains a crucial element. They are responsible for verifying and submitting transactions to the network.
In the Solana network, two participants have taken on the main load. Dexter and PayAI provided most of the activity.
Distribution of x402 transactions and volume by facilitator. Source: Dune Analytics
According to on-chain data, about 68.7% of all x402 transactions in the Solana network went through Dexter. PayAI’s share is about 30.5%. Other participants occupy a minimal part of the market.
The picture is similar for the volume of funds transferred. Dexter handles more than 75% of the total volume, while PayAI accounts for about 14.7%. Small facilitators, including Dexfun, make up the remaining share.
The weekly peak of activity occurred in the week of December 22, 2025. At that time, the Solana network recorded more than 6.8 million x402 transactions. Of these, over 4.9 million operations went through Dexter. The maximum weekly result for PayAI exceeded 3 million transactions in early December.
Wallet Activity Shows Changing Demand Structure
Number of active buyers and sellers in the x402 network, weekly dynamics. Source: Dune Analytics
Wallet statistics provide another perspective on the development of x402. Since October 2025, more than 25,000 unique addresses have acted as service providers, i.e., sellers. More than 18,000 wallets have participated as buyers, including both individuals and agents.
The peak of activity occurred in the week of October 27. At that time, more than 21,500 wallets were active in the network. About 20,700 of them were sellers. This indicates that the supply side dominated at an early stage.
However, recent data shows a different picture. In the week of February 9, about 4,900 wallets remained active. Most were already buyers, about 3,700 addresses.
This dynamic indicates a gradual shift in balance from supplier dominance to more pronounced user demand.
Declining Activity Raises Questions About Organic Demand
Despite a rapid start, both the number of transactions and volumes have dropped significantly in recent weeks. In the Solana network, the weekly x402 figure fell from 6.8 million operations in the week of December 22, 2025, to less than 510,000 by the week of February 9. This is a drop of more than 90%.
Share of non-organic transactions and volume in the x402 network, weekly dynamics. Source: Artemis
Data from Artemis indicates that a significant portion of the recorded activity may not have been related to real economic demand. In the week of November 24, when transaction activity peaked across all networks, more than 78% of operations were classified as non-organic.
The situation with volumes is even more telling. More than 98% of funds transferred during the same period were considered non-organic.
Such a picture is often seen in the early stages of network development. Automated operations, infrastructure testing, or incentivized activity can temporarily inflate usage metrics, creating the illusion of sustainable growth.
The Role of Solana in the Future of Micropayments
Even despite the drop in activity and doubts about organic demand, Solana has already established itself as one of the main platforms for micropayments via x402. Technically, the network is almost perfectly suited for this task. It easily handles a large number of small transactions without delays and with minimal fees. For Internet payments, this is a key requirement.
But in the long run, impressive transaction numbers will not be decisive.
What matters much more is whether real economic activity remains in the system. Whether transfers will continue steadily. Whether buyers will return. Whether there will be sustainable demand for services.
If this does not happen, any transaction records will remain just statistics. But if activity stabilizes without artificial incentives, then we can talk about real adoption, not just a test phase.
