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PayAI captured 10% of all x402 transaction volume in just two weeks, becoming Solanaβs only functional gateway. Itβs sitting at a $60M market cap, while comparable infrastructure plays like Eigen trade at $440M. Coinbaseβs market share dropped from 88% to 80%, and now every AI agent on Solana relies on PayAI to access the $830M x402 ecosystem. In crypto, infrastructure enables, but gateways monopolize β and monopolies print harder.
Monad keeps 80% of all transaction fees, while MegaETH keeps just 30% after paying Ethereum and EigenDA. So even if MegaETH reaches 100k TPS and Monad stays at 10k, Monad still ends up more profitable. Thatβs why the $6.4B vs $4.6B FDV gap makes sense β the market knows value capture matters more than raw speed every single time.