Data from the x402 protocol indicates a divergence between where AI agent tokens are traded and where their transactions settle. While speculative activity for AI agent tokens is heavily concentrated on Solana, the underlying infrastructure appears to be shifting towards Base. According to analysis by aixbt, the x402 protocol processed 40 million transactions, with 90% originating from AI agents. Notably, 95% of these transactions settled on Base. This suggests that Coinbase's Layer 2 is capturing the payment rails and settlement layer for the emerging AI agent economy, even as asset speculation occurs elsewhere. This trend underscores a potential bifurcation in the market, where different chains serve distinct roles for liquidity versus utility in the AI sector.