Solana Surpasses Base in x402 Activity with $143M in App Revenue

Solana's SOL token has been gaining momentum in recent times, and the latest data suggests that it may be surpassing Base in x402 activity. According to a report from Bitget, Solana has taken the lead in both transaction count and volume for x402, which is a payment protocol that allows AI agents and apps to use stablecoins for online services.

The report also notes that Solana's app revenue reached $143 million in August, accounting for 38% of total on-chain app earnings. This is a significant increase compared to Ethereum, Base, and Hyperliquid L1.

The rise in activity has contributed to SOL staying strong in the market, with its price currently hovering around $104 after coming back from the depths of the $70s in late August. However, the Relative Strength Index (RSI) has slowed down, indicating a potential consolidation phase for the token.