ABXX Q2 2026
Alright, so we're back for an accountability check on my thesis for ABXX.
~C$4.5M of transaction/clearing fees were almost entirely offset by liquidity-provider credits, so monetization is still early. This is still being observed as a weak spot by shorts I suppose, but expected for a very young exchange.
What's clear is that the business traction keeps improving: July volume doubled, open interest grew, physical deliveries are happening, institutional distribution is expanding, and ID++ / MarketOS keeps moving toward commercialization.
So the question is no longer whether Abaxx can create activity. It obviously can. The question is whether if it maintains sustainable revenue, irrespective of incentives IMO. Mostly because the competing exchanges are still heavily in the incentives and they're decades older. I'd argue yes, especially given the global trends (specifically in China RE: paper gold trading).
Still long. Still high risk. But the thesis is intact for me.
