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On November 11th, the x402 ecosystem on the Base chain experienced a collective pullback. The cause may be related to news about the reduction of fraudulent pools due to adjustments in a DEX fee switch, which directly dampened on-chain trading activity.
Looking at the performance of several representative tokens: VIRTUAL dropped 11.6% within 24 hours, with a current market cap of $674 million and a price of approximately $1.35. PING fared worse, plummeting 23%, with its market cap shrinking to $25.3 million and the price falling to around $0.025. PAY AI and dreams were also not spared, falling 20%—the former with a market cap of $15.4 million (priced at $0.015), and the latter with a market cap of $22.2 million (priced at $0.022).
According to GMGN monitoring data, the transaction volume on the Base chain has significantly declined over the past 24 hours. This adjustment serves as a reminder that recent cryptocurrency market volatility is indeed increasing, and participants in the x402 ecosystem should exercise extra caution in risk management.