Solana Surges Past Base in x402 Activity and App Revenue

Solana's SOL cryptocurrency has been experiencing a significant growth spurt, surprising many in the crypto community. According to recent data from Artemis, Solana has taken the lead in x402 activity, surpassing Base for the first time.

This milestone is significant because x402 is a payment protocol that allows AI agents and apps to use stablecoins for online services. With Solana's growth in this area, it appears to be pulling ahead of other networks, including Ethereum and Hyperliquid L1.

The network's app revenue has also been on the rise, with $143 million in August alone, accounting for 38% of total on-chain app earnings. This is a notable achievement, especially considering Solana's recent proposal to reduce new SOL issuance by 18.9 million over the next six years.

Despite this growth, there is still uncertainty surrounding the future price of SOL. The cryptocurrency has been in a consolidation phase near $104 after its recent rally from the $70s to above $100 in late August. Buyers still have control, but the RSI indicator has slowed in recent times.