交易量翻倍、多链布局加速，为什么x402协议没有昙花一现？

marsbitPublished on 2025-10-27Last updated on 2025-10-28

自 x402 协议因 meme 币 $PING 的爆火点燃市场热情，已经快要过去了一周的时间。目前为止，绝大部分的市场观点是正向的，既有对 x402 协议未来发展的乐观展望，也有对各类项目的细分讨论。但也会有一些声音认为，x402 的爆火太快，有可能无法在短期内承载过热的市场期望，出现后继乏力的情况。

那么，在这将近一周的时间里，x402 协议生态发生了哪些变化呢？在一起回顾并分析完接近一周时间内 x402 生态的变化后，我们可以对文章标题的内容给出一个回答。

市场热情不减，持续火热

无论市场如何看待 $PING 的快速暴涨，$PING 确确实实为 x402 协议在圈内玩家层面打开了知名度。在 $PING 暴涨之前，x402 生态 30 日的数据显示，$PING 的铸造接口收到了超过 15 万笔 x402 交易，金额达到约 14 万美元，断崖式领先排名第二的、仅有 2.48 万笔交易且金额仅不到 1400 美元的 Questflow。

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但如今，仅仅 24 小时内的数据，就已经远远超过了过去的 30 日数据。在过去的 24 小时内，交互活跃度排名前 10 的服务就已经收到了约 28 万笔交易，已经是之前的 30 日数据的 2 倍。同时，金额达到约 24.6 万美元，是之前的 30 日数据的 2 倍。

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可以说，x402 协议截至目前完全不是昙花一现，仍然受到市场欢迎。

炒作热点由 meme 向应用迁移

作为 x402 协议第一个诞生的 meme 币，$PING 在最 FOMO 的阶段一度被不少玩家与曾经 BRC-20 协议的第一个代币 $ORDI 进行对比。但 $PING 在一度突破 8000 万美元市值后没有能够继续突飞猛进，目前回调到了约 2900 万美元市值。

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meme 币的驱动依靠市场情绪。而在 OKX CEO Star 带有 $PING 截图的推文出现后，短期内缺少了更能够驱动市场情绪的推文，$PING 的回调也在情理之中。

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与 BRC-20 等铭文资产协议大为不同的地方是，x402 协议本身就是一个主打支付 + AI Agent 的协议，因此，玩家们的热情和资金并没有从 x402 协议撤离，而是转移到了 x402 协议生态相关应用标的上。

$PAYAI 后发制人，成为了 x402 协议的新龙头。昨天，$PAYAI 市值一度突破 7600 万美元，自 10 月 24 日以来最高上涨了约 12 倍。目前，该币出现回落，市值约为 5300 万美元。

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这主要得益于两方面，最主要的原因是 Payai 目前是除 Coinbase 官方外，生态第二大的 Facilitator（x402 协议链上验证与结算服务提供商）：

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目前，PayAI 已处理超过 14% 的 x402 交易，在交易的处理笔数上已成为除 Coinbase 之外的最大 Facilitator

另外，Payai 创始人 Notorious 在 x402 协议官方 Github 上是排名第 7 的贡献者，这被玩家理解为「项目与 x402 协议有较为紧密的联系」。

meme币

$dreams、$SANTA 等生态相关代币都收获了十分可观的涨幅。想要更深入了解这些生态相关项目，可参阅律动 BlockBeats 上周的文章「像铭文的 30 倍大金狗，x402 协议是什么？」。

甚至，一些只是提到要计划做 x402 相关的项目，也在过去几天出现了瞬间暴涨的情况，如 Karum、Praxis 等。目前这些项目在短期情绪热度散去后均出现了较大的回撤，需要注意 FOMO 带来的风险。

各链布局 x402 赛道

x402 协议的火爆不止吸引了玩家们，同时也吸引了多条链的关注。作为一个开放、从设计上就天生支持多链的协议，Coinbase 自家的 Base 链作为「老家」自不必多言，Solana 与 BNB 上的 x402 发展同样值得我们关注。

昨天，Solana 创始人 toly 发表推文表示，「x402 很酷」。

meme币

这条推文导致 Trend.fun 上的 $x402 meme 币一度突破 400 万美元市值。Trends.fun 创始人 mable 随后在社交平台 X 上发帖提议举办「x402 索拉拉黑客松」活动，寻找好的 AI 支付类项目。得到 Solana 全球开发者生态负责人 Jacob Creech 支持。

$PAYAI、$dreams 等市场表现优异的代币都在 Solana 上，在目前，Solana 占有一定的先机。

BNB 链官推同样在昨天发推宣传了 BNB 链上的 4 个 x402 协议相关项目，分别是 Unibase、pieverse、AEON.xyz 以及 TermiX AI。

meme币

OKX Web3 钱包移动端负责人 Felix Fan 于昨天发推文表示得到了来自 x402 协议核心贡献者 Bob Xu 的支持，将一同探索在 X Layer 上实现 AI Agent 间的无许可交易：

meme币

相比于比特币生态早期的无人问津，x402 协议这次一爆火就得到了多链的关注，相信发展会更为迅速。

结语

分析完 x402 生态过去一周发生的变化后，我们可以回答文章标题的那个问题了。

首先，x402 热度持续的最大原因，小编认为是 Coinbase 的背景。这个协议长期发展需要克服的最大问题先是要商户「铺开」，然后才是用户「采用」。由于这是 Coinbase 自家的协议，又和 CloudFare 联合组建了基金会，理论上有着足够的资源去推动大规模的采用。

这也是为什么 x402 协议虽然存在一些类似竞品，如 bitGPT 的 h402 以及 Radius 的 EVMAuth，但是完全没有出现当年 BRC-20 那样一堆 BRC-XXX 新协议也被疯狂铸造发行新资产的原因——Coinbase 这块牌子对玩家们来说本身就是一个炒作驱动力。

其次，比起 BRC-20 早期除了发行新 meme 币没有任何叙事可以承接的单一重复，x402 的 meme 币本就是「锦上添花」。玩家们除了 meme 币还有不少已经可以选择的应用标的，并且这些标的是符合协议本身的叙事的。尽管会有质疑这些应用还不成熟的声音，但这对玩家们来说并不重要。资金在叙事内有空间可以移动，才不会一下子全部跑进来，一下子又全部抢着撤出。

已经有相当长的时间没有看见 x402 协议这样同时让币圈玩家、项目方乃至生态方都有着高度热情的新鲜叙事出现了。不但 meme 币有过火热，应用币也重新回到了玩家们的注意力中，这是一个好的开始。

但无论对 x402 生态的前景有多么乐观，大家仍然要注意情绪过热时的投资风险。

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