x402's PING Token Soars by 346%—Experts Warn of Meme-Style Price Swings

Bitget App

Trade smarter

Bitget

News

Markets

x402's PING Token Soars by 346%—Experts Warn of Meme-Style Price Swings

Bitget-RWA2025/10/25 01:27

By:Bitget-RWA

- x402's PING token surged 346% to $57M market cap in 24 hours, driven by 701.7% transaction growth on Coinbase's AI-focused protocol. - Protocol's 5,000 tokens/$1 minting model and 8,218.5% volume spike highlight Base ecosystem's rapid adoption, with 31,000 new buyers in a week. - Binance Wallet listing and Base-linked tokens like CLANKER (119% gain) amplified exposure, though analysts warn of meme-like volatility and limited use cases. - x402's success underscores community-driven token potential, with P

On the morning of October 25, the x402 Protocol token PING experienced a remarkable surge, reaching a market cap of over $57 million—a 346% jump within 24 hours—and saw $39.5 million in trading volume, according to the

Lookonchain report

. Earlier that day, the token’s price spiked 17% in a single hour, pushing its valuation past $33 million after once again surpassing the $30 million mark, as reported by

Coinotag

. This rapid growth has led to comparisons with the meteoric rise of runewords tokens, with PING’s minting mechanism allowing users to receive 5,000 tokens for every $1 invested, as detailed in a

Lookonchain analysis

The impressive rally of PING has been driven by heightened activity on the x402 open-source protocol, which was created by

Coinbase

to facilitate autonomous transactions for AI-powered agents. Over the last week, the number of x402 transactions soared by 701.7% to reach 163,600, and trading volume skyrocketed by 8,218.5% to $140,200, based on data from a

Coinfomania report

. This expansion fits into Coinbase’s larger plan to support developers through its Base ecosystem, with x402’s transaction volume increasing by 629.5% over the past month.

x402's PING Token Soars by 346%—Experts Warn of Meme-Style Price Swings image 0

Since PING’s launch, the Base ecosystem has seen a wider uptrend, with tokens such as CLANKER and

VIRTUAL

posting gains of 119% and 10.2%, respectively, according to a

Lookonchain coverage

. The addition of the x402 protocol to Binance Wallet’s market section has further increased its visibility, which could impact liquidity, as noted by Coinotag. Still, experts warn that many tokens tied to x402 have limited real-world utility and are highly volatile, raising concerns similar to those surrounding meme coins, as highlighted by Lookonchain.

Coinbase’s efforts to attract developers seem to be yielding results, with the number of x402 buyers skyrocketing by 1.5 million% to 31,000 addresses in just one week, Coinfomania reported. The protocol’s achievements highlight the promise of community-driven token launches, as demonstrated by PING reaching a $20 million market cap within days of its release, a milestone also noted by Coinfomania. Should this momentum continue, x402 may become one of Coinbase’s standout projects since the introduction of Base.

---

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.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- BullZilla ($BZIL) emerges as top presale with 100x return potential via 24-stage burn mechanism and $0.00527 listing price projection. - Cardano (ADA) signals 60% price surge with golden cross pattern, while Monero (XMR) dominates privacy sector at $306.74 amid heightened surveillance. - Institutional interest shifts toward utility-deflationary projects like BullZilla and MoonBull ($MOBU), which mirrors BZIL's model with 9,256% ROI potential. - November 2025 marks critical inflection point as $19B Octobe

Bitget-RWA•2025/10/25 12:48

Ferrari’s Approach to Tokens: Blending Racing Heritage and Cryptocurrency to Strengthen Hyperclub Member Loyalty

- Ferrari launches Token 499P, a blockchain asset granting Hyperclub members exclusive auction access to racing cars. - The token, limited to 100 units, enables peer-to-peer trading and aligns with luxury brands' crypto adoption trends. - Partnering with Conio under EU MiCA regulations, Ferrari aims to deepen loyalty while capitalizing on $3.3T crypto market growth. - Analysts predict $10B in tokenized luxury assets by 2030, positioning Ferrari as a pioneer in merging motorsport heritage with digital innov

Bitget-RWA•2025/10/25 12:32

Ethereum Update: Major Investors Anticipate Recovery as $3,800 Level Remains Intact

- Ethereum (ETH) shows rebound potential near $3,800 support, with ETF inflows reversing recent outflows and institutional demand rising. - Technical analysis highlights $3,800 as critical support and $4,000 as a key breakout threshold for a $4,200 recovery target. - Institutional confidence grows via BlackRock's $110M ETF purchase and whale accumulation, while Fed rate cuts and the Fusaka upgrade add macro support. - Market fear (Fear & Greed Index at 32) and tightening ETH supply from staking reinforce b

Bitget-RWA•2025/10/25 12:12

Ethereum Update: Major Investors Anticipate Recovery as $3,800 Level Remains Intact

Blockchain Connects with Traditional Finance as Australia Issues Its Inaugural Tokenized Government Bonds

- Australia completes first tokenized sovereign bond via blockchain partnership, enhancing liquidity and transparency in government debt markets. - Tether plans $15B-profit USAT stablecoin launch in December 2025, compliant with U.S. GENIUS Act and backed by Anchorage Digital. - Tether's $183B stablecoin dominance drives $20B funding talks, valuing firm at $500B amid expanding U.S. market partnerships. - U.S. regulatory shifts and blockchain adoption blur traditional-digital finance lines, redefining infra

Bitget-RWA•2025/10/25 11:56