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Hello this is Matt on the moon Lambo Channel nobody wants to sell their xrp Not literally but look if you look at What's been happening in especially in Recent days there's been a tremendous Uptick in the number of new xrp accounts Created like it's somewhere in the Neighborhood and it varies a little bit Of course but about 2,000 new accounts Per day in fact just a few days ago I Saw one outlier day that was close to Like 2600 accounts new accounts on The Xrp Ledger in one day as we Edge closer To having a total of 5 million xrp Accounts which is a big jump up from When I jumped into crypto and there were You know closer to I don't know 680 690,000 accounts somewhere around there Uh when I jumped into crypto about six Years ago and and also you know there's Been a concern and I want to talk about This in this video there's been a Concern about the zaha network remember That The xrp Ledger side chain it was U Originally had a coin that was called Xrp plus now it's just the zah how coin I guess xah for short that's the ticker Symbol anyway and and there's all sorts Of concerns that people have had which I Think are I mean it's okay to bring it Up but I think that in the end they're Not concerns that you know you should Have once you've analyzed all the facts But there are concerns that since
There's a burn to Mint feature which Means that you can actually burn your Xrp to receive Z how tokens there was a Concern that it was going to lead to a Flow over there and developer activity Was going to head over to that chain and So I want to touch on that because based On the price action since the how Network has gone live I think it's very Clear that you don't need to be worrying About that let's just say that uh there Was also this headline from the Crypt Basic freelance site go Lance confirms Using xrp to pay Freelancers and then There's also this headline uh expert Says it's strange that xrp doesn't have A spot ETF application despite legal Clarity and so as everybody knows there Are multiple spot Bitcoin spot ETFs that Have been applied for waiting to hear The conclusion with the SEC but I'm Optimistic we're going to see some very Positive news in the not too distant Future future and then the other day we Got news that black Rock's actually Pushing for a spot ethereum ETF so why Not a spot xrp ETF I got a couple Thoughts on that I want to share with You but uh before going further I do Want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell Anything because of anything I say or
Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so into the first Piece freelance site go Lance confirmed Using xrp to pay Freelancers and so this Is just further proof that there is Absolutely a place for a jurisdiction Cryptocurrency that is just fantastic For payments and that is Xrp Michael Brooks the CEO and founder Of the online freelance Marketplace Golance has shared insights on how his Company leverages xrp to facilitate Rapid payments to Freelancers worldwide In an exclusive interview with ripple Brooks unveiled Goan Innovative use of Xrp to enable seamless payments to Freelancers on its platform via Ripple's Payment solution rippl net Brooks first Highlighted that go Lance a platform Entirely composed of Freelancers is Dedicated to addressing the unique Challenges freelance workers face Globally he stressed the company's Commitment to developing Global Technologies and tools that Aid paying Freelancers efficiently in the interview Brooks detailed go Lance's strategic Collaboration with ripplet he noted that The freelance platform focused on Underserved corridors where payment Challenges are most acute and so folks This is obviously Ripple figured out in
The earliest of days what they should be Focusing on when it comes to uh you know Positioning xrp that the way that they Are they're looking at high friction Situations so they're not starting with You know like the the big dollar figures They're talking about low dollar value But um you know High Velocity Effectively and so you're also by by Removing friction because payments are So fast and cheap you're encouraging People to make more Transactions and so xrps just just going To be needed that much more as a result But it's it's frankly lwh hanging fruit And now we have the technology to make This stuff happen here but as I've said You know if if xrp has even just one use Case and it's got many but even if There's just one use case for which it's Being adopted that's all it takes for it To have long-term uh long-term viability And so ripples obviously found this and Here's a real world example this is why I want like this is a real human unders Screen the founder and CEO of goland Helping actual people and reducing Costs it's fantastic and so they note Here um check out the following Brooks Illustrated the impact of the Partnership by citing the example of a Freelancer earning $50 a week in the Philippines the go Lance CEO emphasized That such a person cannot afford to wait
3 days to receive payment for services Rendered well how about that and with With the way that this historically has Worked you just you're you're talking About a longer waiting period and lots Of Fees and so they said here quote would You like to pay 5 to 10% of your salary Just to the bank that sends you the Money end quote and so that was a Rhetorical question there because they Noted that typically these fees would be Like 5 to 10% so again it's like the these These Are Concepts that we're aware of when we Talk about within the xrp community but But it's good to put a face to this so There's the CEO on your screen you can See this is a real life situ like this Is actually happening and so the idea That xrp would not be continue to be uh You know long-term viable or that it Wouldn't be one of the biggest Currencies uh cryptocurrencies in terms Of market cap if you fast forward into The future that just seems silly to me And I know that things can change over Time but unless there's going to cease To be a place for a decentralized Cryptocurrency that is technologically Sufficient you know has an open market Price to to to solve these problems okay Fine if that's not needed one day but I Find that highly
Improbable and then there's also this so There's a how Network as I was talking About at the outset of the video um look I I'm not going to go in a whole rigma Roll about this I've kind of said my Piece on this but I just wanted to Illustrate the point here that um Because there were so many people that Had this concern that because of zaha And it's getting launched and The exer Xrp Ledger developers launching this Thing it just means that it's it's going To pull developer activity away from the Xrp and I made the point that look if You've already got something that's Working on The xrp Ledger you're not Likely to just uh you know rip that off The xrp Ledger with all of the Implementation that you have and all the Liquidity everything else that comes Along with it and by the way you can't PL program liquidity in a new coin You're unlikely to to just take that off The xrp Ledger plop it on a new unproven Chain that nobody has where there's Almost no liquidity and nobody's using It today and this is not me slamming Z I'm just it's just a matter of fact Statement here the odds of that happen Happening more Low I mean I let's just round down to Zero it's not happening no this this Hasn't happened anymore anybody that's Going to use the zah network it's
Because it has smart contract Functionality and so if you already have Something functioning on The xrp Ledger And a lot of it a lot of people are Using it for various payments Applications that's great it's already Doing what you want it to do so if Anything goes as the how it's something That wouldn't have lived on The xrp Ledger anyway because there's no layer One smart contract functionality on The Xrp Ledger anyway it wasn't ever going To happen so either how is going to Solve the problem or you're going to Have developers jump to an unrelated Blockchain and that would have been Worse because it's good to have this as A side chain now let's tackle this Because here you can see ex Community Member minus Wells wrote how long I'm Sorry how low do we take this and he's Showing a screen grab of the price of Zahal at uh 8.9 cents when he shared This uh just a bit ago 8.9 cents at the Time and it's a hair higher at the time That I'm recording this Um and then this is reposted by attorney Bill Morgan who wrote the one:1 xrp to Zaha Mint doesn't look too good now Given the difference in the price Between them all right and so the way That this would work is that there was a Burn to Min program meaning that if you Want to have zaha tokens you could
Purchase them on an exchange I know They're available on bitr for example They have an open Mark there so you can Actually go to bitr and you can purchase Zah how tokens another way you can get Zah how tokens is you can purchase xrp Or maybe have xrp already and then you Can earn that and receives the how Tokens on a one:1 basis but the thing is Xrp is currently worth what 60 something Cents so then you burn your xrp that's Worth 60 something cents to have as a How token that at the time that the Screen grab was taken was worth 8.9 Cents that sounds like a bad deal right That sounds like a real bad so nobody's Going to do that right so there's this Concern and again all it's really doing Though I mean if people did that that Would just make xrp more scarce anyway So even then it wouldn't be negative if They were doing doing it which is Another reason this whole thing was Silly obviously right but you know even If a how or more like this would be good For xrp that's why that's why I want to Illustrate this point say zaha was worth A dollar right now okay what would People do if if zah how we trading for a Dollar right now instead of 8.9 cents um You know you know what people would do So that they don't have to pay a dollar For a zahal they'd buy xrp which is 60 Something cents and then they'd burn a
Bunch of that and then they'd receive The zahal way cheaper than if they Purchased it on Bitro and so that would be good for any Developer that wants to build on zahal Because they're getting it cheaper by us Utilizing xrp Instead and then it burns xrp making xrp More scarce so it's a net plus for xrp None of this was ever going to be bad Just to be clear here now in reality Here it would take a ton of success and A ton of Demand on the zaha side for This to ever have any sort of impact on On xrp or The xrp Ledger so it it may be The case that pretty much no one really Ever uses burn to Mint but what I'm Saying is if a how wildly takes off with This smart contract functionality and Who knows crypto's crazy if it actually Does all I'm saying is it could only Possibly be good for xrp there is no Downside here very clearly all right so I just wanted to highlight that now that We've got a real world example of what's Going on here and then the last story From the Crypt basic expert says it's Strange that xrp doesn't have a spot ETF Application despite legal Clarity the expert considers it strange That there is still no application for a Spot xrp exchange traded fund despite The coin receiving legal Clarity founder Of derer capital Y and mabarak has
Expressed concern over the absence of a Spot exchange traded fund application For xrp notably the quest to launch a Spot ETF for crypto assets intensified Yesterday after the world's largest Asset manager Black Rock filed an Application with the US sec to roll out A spot traded ethereum fund the asset Manager had previously applied to launch A spot Bitcoin ETF joining other top Financial institutions like Fidelity Investments and grayscale in the race And so here's the post from yass mabar He wrote many applications for Bitcoin Spot ETF and now there's a new eth spot ETF application I find it peculiar that There's no spot ETF application for the Only crypto with actual legal clarity The that crypto is xrp yeah and so look Um fair enough statement I actually Don't find it peculiar and it's it's not Like a crazy thing that he's stating Like it's perfectly reasonable to be Asking this question and to think that It should have happened by now I just Happen to have a different opinion um And I'll tell you why uh I don't think That legal Clarity is the the only Concern here I I think that uh it's a Fact that there's just not sufficient Demand for xrp right now so consider Bitcoin with a market cap of 700 and Something billion dollars right then You've got eth whatever its market cap
Is 200 I think it's 200 and something Billion isn't it here let me pull this Uh yeah like 244 billion and then you've Got xrp with a $35 billion market Cap so look I think that it's a virtual Certainty there will be an xrp uh ETF at Some point in the future but I'm just I'm just saying there isn't sufficient Demand there's a bunch of coins in that Range and so legal Clarity I mean look If you're going with eth and Bitcoin and You already know that those two don't Have legal Clarity that's probably not The biggest Factor so black Rock's going With those two the legal Factor as a Non-factor for them okay so we can throw That out right they because they're Aware of this they know there's no legal Clarity for Bitcoin and eth right They're not stupid but there is for xrp So that's not a factor for them okay so Then what is a factor I just I just Think it's a fact that there's not Sufficient demand that the the crypto Asset class isn't that big eventually There will be way more demand for xrp We're just early and this is not a Slam Against xrp and you know that because It's my favorite crypto right but think About it it's good because that means we Are early I don't want to be in a world Where it's already decided that xrp Makes sense because that means it's Worth of Fortune I want to be here
Before and then grow into the point Where it's worth of Fortune that I can Sell it for you know life changing Wealth basically that's the plan that's What we're trying to do here right so I Think that's pretty much it and then the Only thing that ever crossed my mind and And I actually asked about this you know A month or two ago on on x I I I I posted something about this and I was just like because I'm just seeking Knowledge because I don't know I I know That um there's a big concern when it Comes to the SEC approving uh ETFs about Market manipulation and I was wondering If perhaps it could be an issue that Ripple holds so much xrp even though the The vast majority of it's in escro and I Know that and look I don't care that They have a ton of xrp I've made my St Very very publicly known I don't care I Understand potentially I could get Burned and they could just start dumping It but that doesn't make sense to me Because that wouldn't be good for them It's in Ripple's best interest to not Just start dumping on the market but That being said from a technical Perspective that's something they could Do right and so I'm wondering if since The that's something the SEC my Understanding is they have to factor That in the concerns with any potential Big moves like that I'm wondering if
That's something that could potentially Be a hurdle even if a firm wanted to Have an xrp ETF right now and and so who Knows maybe maybe somebody's going to Surprise us and we're going to have even Though xrp's only got a $35 billion Market cap way smaller than Ethan Bitcoin maybe we get surprised and Somebody tries to move forward but I Still wonder like are these not f is That not a factor and I don't have I'm Saying I literally don't know because I Don't come from that world I don't have That any sort of career background that Would allow me to have that knowledge And it's not easy to ascertain exactly What the answer is and so I asked this Question on X and I got I got responses But there's a bunch of people saying Yeah I don't know right so I can't Answer that if you listening know drop a Comment below but I I honestly don't Have the answer to that one if that Would be a factor and if so to what Degree but again I personally on a Personal level I I just I don't give a Damn I don't care how much xrp Ripple Has doesn't matter I just care that it's Being adopted it's actually useful to me It looks like the writing's on the wall In terms of it being long-term viable we We'll see we'll we'll see how it goes But yes ultimately if there's more Demands um I could certainly see a world
Where eventually there's all sorts of ETFs for a bunch of different Cryptocurrencies xrp being one of them Yeah yeah but in the short term does it Surprise me that we're not seeing that No because I don't think that legal Clarity is a is something that's being Sufficiently um considered or or if it Is being sufficiently considered the Conclusion that they came to is that no It doesn't matter especially after the Ruling from Judge taus maybe that's Something that they factored in right The asset itself is not a security if it Applies to xrp May thinking well Probably applies to Ethan right let me Know what you think those are just my Initial thoughts I'm not a financial Adviser you should not buy your sell Anything because of anything I say or Right that would be a very very very bad Idea until next time to the Moon Lambo
