x402 Token Surpasses $800 Million Market Cap After Launch on BNB Chain

Just one day after launching its new Facilitator module on BNB Chain, the x402 ecosystem has seen an explosive rally, pushing its total market capitalization past $800 million, a 366% surge within 24 hours.

According to CoinGecko data, x402 ecosystem tokens have now reached a combined market cap of over $810 million. Leading the rally were AInalyst, which surged 179%, and Capminal, up 140.6%.

Trading volume also skyrocketed, reaching $225.4 million in the past 24 hours. The top performer remains EIGEN (EigenCloud, formerly EigenLayer), which rose 8.5% to $1.20.

The surge came right after Pieverse announced the launch of x402b, an expanded version of the original protocol designed specifically for BNB Chain (BNB +3.15%). The upgraded version introduces two key features: EIP-3009 gasless payments and auditable receipts.

Originally developed by Coinbase, the x402 protocol is an open, internet-native payment standard that uses the HTTP “402 Payment Required” status code to enable instant, programmable payments for APIs and digital content. The protocol allows both humans and AI agents to transact directly through HTTP requests, eliminating the need for traditional account setups or authentication processes.

Just a week earlier, the x402 protocol had reportedly processed around 500,000 transactions, marking a staggering 10,780% increase compared to the previous four weeks. Coinbase CEO Brian Armstrong described the growth as “absolutely exploding.”

Launched on October 26, the x402b upgrade aims to solve two key limitations of the original protocol on BNB Chain:

• The gasless issue: Most stablecoins on BNB Chain were not compatible with x402’s gasless payment system. To fix this, Pieverse introduced pieUSD, a 1:1 wrapped USDT token supporting EIP-3009. “Customers just sign a message — no gas required,” Pieverse stated.

• The audit and tax issue: Traditional businesses need verifiable payment receipts for accounting and compliance. To address this, Pieverse’s custom Facilitator module automatically generates jurisdiction-compliant, immutable receipts for every transaction, stored securely on BNB Greenfield, the network’s decentralized data layer.

This upgrade could trigger a wave of BNB inflows into the x402 ecosystem, potentially driving its market cap even higher and amplifying on-chain activity.

Pieverse confirmed that it will release the full protocol specification, smart contracts, and reference implementation in the coming weeks — a move that could set a new benchmark for web-based crypto payments.