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Went back to the Artemis agentic payments charts after the Q1 2026 comedown.
The headline volume crash made most people tune out. Transactions dropped from ~140M in Q4 2025 to almost nothing, easy to assume the category fizzled.
Adjusted buyers kept climbing the whole time, 420K+ now, still going. Sellers up to 5K+.
Gamed activity share dropped from 42% at the peak to around 15%. Average transaction size settled around $0.50, which actually lines up with what micro-payments should look like.
So the volume dropped, but the people and the quality of activity are still moving up.
x402 is 99% of the category.
Whether that stays a one-protocol market is probably the thing to watch next.