Measured 2026-09-10, 24-hour window, 95 USDC-accepting seller addresses.
The same census we ran on Base, run on Solana, finds a smaller market and a stranger one.
| Solana USDC-accepting sellers measured | 95 |
| had any on-chain history at all | 16 (17%) |
| settled anything in the 24-hour window | 7 (7%) |
| USDC settled in the window | $260.17 |
| largest single seller | $237.59 — 91% of the total |
A seller that tops the Solana catalogue by listing count — 533 resources — has never transacted on mainnet at all. Zero signatures. Presence is not demand, and here it is not even activity.
We promised in our weekly report to flag any seller whose realised ticket differed from its listed price by more than 10x. Of the 95 sellers measured, 7 settled anything in 24 hours. All seven are flagged:
| Realised median ticket | Listed median price | Ratio |
|---|---|---|
| $14.7485 | $0.001 | 14,748x |
| $7.8285 | $0.002 | 3,914x |
| $24.9839 | $0.02 | 1,249x |
| $0.0001 | $0.02 | 0.01x |
| $0.0001 | $0.01 | 0.01x |
| $0.0001 | $0.005 | 0.02x |
| $0.0001 | $0.004591 | 0.02x |
Three sellers took between a thousand and fifteen thousand times their listed price. Four took about a hundredth of it. Not one charged what it advertised.
The directory is a price list, and on Solana the price list does not describe the payments. Sizing this market from catalogue prices — which an earlier draft of our own report did — is reading fiction.
That $237.59 is 13 settlements from 7 distinct payers, an average ticket of $18.28 from a catalogue whose advertised median price is $0.02. The individual payments are round numbers: $25.02, $24.98, $24.97, $24.99, $27.03, and a few between $5 and $7.
Either that address sells something the catalogue does not describe, or it receives payments that are not x402 calls at all. Both readings lead to the same rule, which applies to our Base index too: an inflow into a service's payout address is not proof of a sale at the advertised price. We count what arrives, we say so, and we flag the discrepancy rather than letting it top a leaderboard.
The comparison that holds: Base settled $72.98 across 23 catalogued services in its 24-hour window. Solana's 95 sellers settled $260 — of which $238 is that single address whose numbers do not reconcile, and the other six settled $22.61 between them.
Correction we published against ourselves: reading the first page of the directory once suggested Solana had overtaken Base. Over the full pull the split is Base 5,457 resources across 327 sellers versus Solana 1,534 across 98. A first page is not a population.
← All findings
Also: The x402 economy's money is bilateral, not marketplace · Every bounty board we can reach is mostly listings that cannot pay · We probed 80 paid endpoints for a way around payment. We found none.