Author: Haotian
Let's discuss the current situation of the X402 track and provide a brief commentary for reference only :
1) I originally thought that the phrase "change of ownership" should be in quotation marks, but upon closer inspection, it is actually "dragon head" that should be in quotation marks .
PING attracted a lot of attention and made the track popular, but failed to show its kingly dominance. It was all about timing and fate. It was not even close to the GOAT of the past. Who can blame them when the market is in a period of liquidity shortage?
The name PAYAI, Pay, played a significant role, and Facilitator did indeed play a crucial role in the technical architecture of the x402. However, the overall technical threshold for the x402 track is not high, so most people are still chasing after it with the mentality of speculating on MEME.
Therefore, I think it's too early to talk about the "top two" in the current market, as things are still unstable. But the market's popularity hasn't waned, and we're waiting for the next turning point .
2) Many people complain that CEXs aren't supporting the x402 sector. Yes, I'd like to know why too. But the fact is, the resurgence of on-chain innovation has shifted from providing valuable assets for exchanges to the awkward situation of competing for CEXs' attention . This is the fundamental motivation behind my continued advocacy for on-chain innovation; once on-chain innovation is put on the defensive, more innovation will be stifled.
However, we can also see clues about the exchanges' strategies. Judging from XLAyer's recent actions, they seem to have taken my advice to Star Xu to heart. Furthermore, OKX's listing of Virtuals also expresses their stance; they need to find certainty amidst the chaos. Therefore, it's expected that many more "legitimate" players in the x402 sector will receive offers from OKX.
Interestingly, Bybit reacted very quickly this time, quietly launching PAYAI's Alpha when PING was trending, and Mantle is also making a series of moves related to the x402 track.
This indicates that CEX is not entirely indifferent. The rise of the x402 track is an opportunity for them to break the unfair competition from their peers, and a key moment for them to pull the industry back from the internal strife of MEME hype to the main theme of technology . This cautious approach suggests they are taking it seriously, which can be seen as a positive sign.
3) Many pessimistic people compare the x402 track with the initial rune craze and the later AI Agent craze, believing that the excitement is only temporary and will eventually lead to a mess .
I acknowledge the existence of a bubble and that most projects will inevitably fail, but I am optimistic about its long-term intrinsic value , for reasons I have analyzed many times in previous articles.
In short, Inscription is an asset issuance game where gold is carved into it. x402's current focus is on AI Pay infrastructure services. Launchpad has been popping up and hasn't really come to fruition yet, and it's not purely based on operational logic.
Regarding the AI Agent craze, I believe the current popularity of the x402 track is a continuation of the previous wave of AI Agents, evolving from meaningless scenarios where AI Agents only chatted to AI Agents participating in payments. This transformation is significant and difficult to disprove .
above.
In short, don't be discouraged. To sum it up in one sentence: the x402 track currently lacks a true main driving force, and many Dev teams are already preparing new innovative products, gameplay, and mechanics... CEX teams are also quietly preparing their strategies...
Be patient, and at the same time, maintain your confidence and let the dust settle .
