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x402 ignition, $PING 8x! Earn first, understand later

x402 ignition, $PING 8x! Earn first, understand later

BitpushBitpush2025/10/24 16:49
Show original
By:BitpushNews

If you've recently come across "x402," you're probably confused—it’s not a blockchain, nor is it a hyped token project, and even its official website is quite plain.

x402 ignition, $PING 8x! Earn first, understand later image 0

Yet, its narrative has triggered a surge in on-chain activity, driving up the prices of multiple ecosystem tokens such as $PING, with $PING itself soaring 8x within 24 hours. The x402 hype has spread to the Meme and AI developer communities.

x402 ignition, $PING 8x! Earn first, understand later image 1

x402 is initiating a new on-chain payment narrative, and the driving forces behind it are precisely the companies most capable of defining infrastructure standards today: Coinbase, Cloudflare, and The Graph.

In this article, we’ll start with the background of x402, explain why it has gone viral, what problems it aims to solve in the web3 space, and who might benefit from it first.

The "HTTP Standard" for the Payment Layer

x402 is a payment protocol built on HTTP status codes. HTTP 402 (Payment Required) was actually reserved in the standard as early as 1997, but it has remained unused due to lack of practical implementation. The x402 protocol proposed by Coinbase Developer Platform aims to truly "activate" this legacy field.

Simply put, it seeks to establish an "HTTP-native on-chain payment process." Any webpage, API, Bot, or AI Agent can notify the client that "payment is required" by returning a 402 status code, and provide standardized on-chain payment information. After the client completes the payment, it includes the payment proof in the next request, and the server verifies it before returning the service content.

x402 ignition, $PING 8x! Earn first, understand later image 2

This model may seem abstract, but it addresses one of the most fundamental problems in the crypto world today: automated, micro, and human-free on-chain payment mechanisms.

From a business model perspective, it enables economic activity between machines: if a Bot wants to call another service’s API, there’s no need to register an account or use OAuth—just pay on-chain and access the service instantly. This is what a truly "machine-participant" open network looks like.

"Big Tech" Consensus

Another key reason x402 has attracted so much attention from industry professionals is its hardcore "background."

The initiator, Coinbase Developer Platform, is one of the strongest teams in developer infrastructure construction in the Web3 world. From Wallet SDK to API Gateway, from smart contract tools to data indexing platforms, they are building a crypto development service stack similar to AWS. And x402 is a crucial layer in this stack: the payment layer.

Cloudflare’s participation is the "breakout booster" that could enable this protocol to achieve mass adoption. You may not be familiar with it, but in fact, you use Cloudflare’s network services every day. Over 20% of the world’s webpages, APIs, CDNs, and edge computing services run on its network. If Coinbase can define on-chain standards, Cloudflare can truly push those standards into the Web2 world.

x402 ignition, $PING 8x! Earn first, understand later image 3

The Edge & Node team from The Graph represents the rigid demand for "access control" and "usage billing" in on-chain data infrastructure. They were among the first teams to combine APIs with tokenized payment models and are also the most likely real-world users to implement the x402 model early on.

The three companies represent trading, traffic entry, and data services, respectively. Their joint promotion of a protocol is enough to create an atmosphere of a "quasi-standard."

The Technology Is "Heavy," So Why Did It Go Viral?

If it were just a payment standard, no matter how advanced the design, most people wouldn’t care. So why did x402 ignite the secondary market and drive token prices to take off?

The reason may be unexpected: it’s actually "useful" and has real-world value. Moreover, people are making money from it.

On one hand, x402 is not limited to a specific chain or dependent on a particular token. It is a completely open, chain-agnostic, and token-agnostic protocol. You can use any chain or token for payment—as long as the server accepts it and the client can sign, it works. This "anyone can connect, anyone can use" approach greatly lowers the experimental threshold for early developers.

x402 ignition, $PING 8x! Earn first, understand later image 4

On the other hand, x402 doesn’t require you to integrate a complex SDK, call a proprietary wallet, or rely on a centralized verification structure. As long as you’re a web developer and understand HTTP and API logic, you can add x402 payment functionality to your service within a few hours. This extremely low engineering threshold is a necessary condition for the "explosive spread" of a technical standard.

Finally, x402 has caught the wave of the AI large model economy and the explosion of automated Agents. More and more AI Agents need to call services, crawl data, and access interfaces, and many service providers also want to charge by usage. The "machine-readable payment protocol" provided by x402 just fills this structural gap.

The Perpetual "Speculation" Game

Of course, the market never focuses solely on technology. On platforms such as CoinGecko and DEX Screener, the x402 protocol has even been packaged as a "new public chain" level hype hotspot.

Currently, on the Base chain, dozens of tokens have launched under the "x402 ecosystem" label, including $PING, $DREAMS, $SANTA, $PAYAI, $GLORIA, $AURA, and others.

Among them, $PING was the first to be packaged as a concept and is currently one of the most actively traded projects.

x402 ignition, $PING 8x! Earn first, understand later image 5

Strictly speaking, these tokens have no direct official relationship with the x402 protocol. They are more like speculative scenarios built around the technical logic, payment model, and ecosystem concept of x402: someone creates an API that charges by call and chooses $PING as the payment medium; or a Meme project promotes the "Agent-to-Agent economy" slogan, integrates the x402 simulation process, and then issues a token accordingly.

These projects may not be reliable or long-lasting, but they do have a "consensus access point"—everyone wants to get in early on a foundational protocol that could play an important role in the AI economy explosion. Many community KOLs have noted that this story is very similar to the early logic of "Ordinals inscriptions + BRC-20."

As KOL JRP (@jrp_gg) said: "PING is the entry point, but the real value of x402 lies in the ecosystem projects."

You could say this is a wild way to mobilize the secondary market, but it also indirectly demonstrates the strong traction of x402 as an underlying technical narrative. For early ecosystem participants and speculators, tokens around x402 are their tickets to bet on the narrative. Whether they are betting on its future mass adoption or just aiming for a "first-mover advantage," everyone has their own judgment, but the influx of capital is already a fact.

Author: Bootly

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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