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Hello this is Matt on the moon Lambo Channel as most of you are no doubt Aware by now the xrp Ledger's first ever Side chain recently launched the zah how Network with the ticker symbol Xah and um it's it's a it's basically It's a copy of The xrp Ledger with Certain tweaks including uh what was Known as the what is known as the hooks Amendment for the xrp Ledger which has Not been approved for The xrp Ledger It's been uh sitting around literally For years uh that code was actually Implemented into layer one of the zah Network which offers a native smart Contract functionality on layer one and The reason this is created is because There is no smart contract functionality On The xrp Ledger on letter one it's Just designed to be a fantastic Blockchain for Payments uh and so this was launched and There's a token and I don't know if you Guys heard about this yet but it went on A bit of a run a substantial run it was Up I think over 400% in a day and it was The day that uh just the other day you Know when Bitcoin got back up to you Know over $42,000 for the first time Zaha was up like over 400% hit a new all-time high which Ultimately led to this article from the Crypt basic xah May surpass xrp price as Xrp Ledger side chain token moves to new
All-time high above 60 cents so folks How do you guys feel about that how do You all feel about the idea Of the zaha token xah being worth more Than the price of xrp is that something We even actually need to worry about Well fair enough that they wrote the Article because it got pretty damn close Like within T of a penny and and maybe There could have been like you Scrutinized it it may be the case that Technically I mean I haven't verified This maybe technically um zaha could Have been slightly uh you know worth More than xrp for a very brief period of Time so what does that say about xrp Well I've got a bunch of comments on That 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 anyway peace reads as Follows the price of zah how Network's Xah token has started the week in Grand Style gaining over 400 100% zaha Network A side chain built at top The xrp Ledger Has seen the value of its native xah Token soar by 376 in the hours leading up to press
Time xah Rose from 12 cents to 60 cents And a breakout that has seen it Outperform the broader crypto market so I'll pause note it did hit an all-time High of over 64 cents so it was Ultimately up over 400% anyway peace continues the move Catches the eye as XA xah has ties with The xrp Ledger with trading officially Available on bitu the price of xah has Risen Significantly um and so then they wrote Here this is kind of funny actually Given that I know what happened and Maybe you do maybe you don't but I'm Going to share it with you they wrote Here it remains to be seen how long the Latest uptrend lasts as xah is only Tradable on bitu at the time of writing Per data from coin market cap holders Would anticipate that the token sustains The growth given the improvements it Brings to The xrp Ledger Ecosystem ah you might have gotten out Over your skis a little bit uh the Crypt Basic and I like the Crypt basic but uh That assumption that it would stay there Bad assumption it certainly did not um Which I'll Circle back to in just a Moment here but um first I want to share With you this post um this is from December 4th 3:25 a.m. Central Time That's my time zone here anyway and it Attorney Bill Morgan uh shared this
Little screen grab of the price of xah It was at 56 cents at the time and he Simply wrote at this rate xah will go Past xrp's Price um which is totally reasonable to Post by the way actually was and Technically maybe it even did I didn't Scrutinize from like minute to minute to See if there was a moment where it was Above by like a like even part of a Tenth of a penny so maybe but it doesn't Matter either way it was pretty much There Because xrp for that for the last 24 Hours it's its 24hour high was a little Over 64 cents and the same is true for Xah they both were at their peaks were Just over 64 cents so it's about there Either way really so um So I responded Though and um as far as this idea of xah Blasting past uh xrp I know that even if It does it's not sustainable how do I Know that well check this out I wrote to Bill Morgan and I said if it does then People will buy xrp and burn to Mint xah Since that would be cheaper than buying On Exchange and so to be clear what that Means because I don't know if everybody Is aware of this but there are there are A couple ways that you can acquire xah If you choose to First way is you can Purchase xah from someone else you could Buy it on an exchange like bitr for Example where it is currently traded and
It's the only exchange by the way where It's currently traded because it's a b Brand new cryptocurrency so that's not Terribly surprising but you you can Purchase it from somebody else there Another way to get xah is you can do What's called burn to Mint where you can Purchase xrp and this is why it's a side Chent you can purchase Xrp and then you can burn that xrp and Mint xah so if you purchase say 100 xrp You can burn 100 xrp it's gone forever Nobody can purchase it that that means That the total supply of xrp has been Permanently decreased it's burnt it's Gone forever but then what happens is Xah is minted and equivalent amount so 100 xrp in this hypothetical would be Burnt and xah 100 x 100 xah would be Minted so that's the other way you could Get it so how do I know that xah price Even if it goes above xrp will never be Sustained above it well the reason is is What I wrote here again if if people if The price of XA goes High xah goes Higher then it's cheaper to get xah by Burning to Mint so imagine that xah is Being traded for a buck just making that Up say it was traded for a buck well do You want to buy it for a buck from Somebody on bitr or would you prefer to Purchase xrp and then burn that xrp to Mint x xah given that Xrp is currently worth whatever to 61 62
Cents whatever it is wouldn't you rather Get that for 61 cents and then you can Take that xah that you just Meed and Move it over to bit true and if the Market rate is a buck then you sell it For a buck and you make a big ass profit Right and so I'm using this as a simple Example exle uh now in all reality if There's ever a gap that big it would Probably be very shortlived but I'm just Pointing out that's how it works that's Why xah is never going to be worth xrp Un that's just that's it's just a blip On the radar that really is it and um I Feel incredibly confident about that and I I I mean I always have been because I Know that that's just functionally how It works but um to bring the point home Further uh viewing the post engagements There where I explained that's why it's Not going to be worth you know it's not Going to be worth it just xah is not Going to be worth more than xrp if you Look at the likes here I will note that Whe say wind who uh is the U the founder Of xrpl labs you know and created the Sum app um he hit like on what I posted There and he is one of the creators of Zaha he created it with other people and He's well respected well known within The xrp community he hit like on that Because that's just functionally how it Works so no we don't have to worry about Xaa being worth way more than xrp and
Then we've missed an opportunity or Something so so if you want X you can go Buy it I don't own any maybe I will one Day I happen to not at the Moment um now attorney Bill Morgan Responded to me and he said uh some Would so what he's saying there is some Would purchase xrp and uh and then burn It so they can xah so he says xah so so Bill Morgan says some wood but as you Have said on your YouTube channel people Can be emotional and irrational and the Market and I say that's a fair enough Comment people are irrational all the Damn Time um but so I responded with the Following maybe some clueless people Wouldn't burn to Mint but when when There are gaps like that in the market People figure it out over time it's the Same reason that even though people Engage in Arbitrage trades in crypto Today it's much less profitable than it Was back in 2015 for example as more Speculators enter the market things Tighten up and efficiency increases this Will create equilibrium in price between Xrp and xah and so and so let me explain That and I want to share with you a Story I haven't talked about this ever On the channel before it's just Something that I find Interesting but their firms dating back Like a decade ago they're like way way
Way back and certainly before uh the Bull Run started where I jumped in in 2017 there are firms out there there's One in particular I wish I could Remember the name but This particular firm they all they did And they had massive funding behind them To create technology that basically ran A bunch of trading Bots and what these Trading Bots did was seek Arbitrage Opportunities meaning if if you've got a Cryptocurrency it could be xrp so There's xrp trading on multiple Exchanges right so let's say it's a Certain price on one exchange and a a a Different price on the other let's say That it's higher on another exchange They created technology to track the Real time differences in price from Exchange to exchange and if there's a Gap what they would do is they're bot And they it just done automatically Would purchase the xrp where it's Cheaper in real time and then Immediately transfer it to The Exchange Where it's selling for more and they'd Sell it over there and so they'd pocket The difference they'd pocket the spread Basically that's it and back when there Was less liquidity and things were more Volatile um there were some massive Profits that were made I wish I could Remember the figures I should probably Try and hunt this this F down see if I
Can find news articles because I just Thought it was a cool story this made it Was just crazy money and then what Happened and the subsequent Market cycle Um the uh the The Profit shrank let's Say there were more Market participants And there were which means more Competition finding these gaps in the Market and so even though they did find Them and they were they were still Pretty darn profitable they had so much Competition also looking for them that The the gaps were smaller and there were Fewer of them and and that's that's just How that's the nature of things that's Why even though each individual Cryptocurrency exchange it's its own Contained little ecosystem its own Little market but each separate Market Is aware of what's happening in other Markets and if there's too big of a gap In price anywhere people are watching That in real time and and software is Watching it in real time so that's the Reason these this occurs and so when That happens that's known as Arbitrage That's what that Is um and so the reason that I'm Highlighting that is just to point out When when you're talking the you know Difference in price between xrp and xah If there's a gap there as more Market Participants jump in that Gap is going To immediately be noticed uh and uh
Increasingly be noticed I should say and Then it will just cease to exist that's How you find equilibrium that's it and As more participants come in you're Going to have smaller and smaller gaps They're going to be harder to find and Then that's why this firm I don't even Know if they're still in business Someone that was doing the Arbitrage Stuff but they made a boatload of money And then the subsequent Market cycle They made way way way l l so I don't Know if it's something that they're Still doing as a business mean it could Still be I mean it's still potentially Viable there's still opportunities There's just a lot less Opportunity uh and then I'll also note Here as far as this massive runup for Xah like it's being traded on one Exchange there's almost no liquidity Folks here here's the here's the last 24-hour Chart the last 24hour price chart for Xah xah all-time high of 64 cents okay And occurred just over 24 hours ago it's Now 25 cents 25 so it's come down Dramatically and my God if you look at The liquidity I don't know if how Accurately this is reporting but like The liquidity 297 bucks you've got the Volume at $32,000 and undoubtedly you can see here I mean the volume at at during the the
Mania going on you know in the early Hours of U December 4th that that's Where a lot of it was but you're looking Even then like a million so way spiked Up but that doesn't really mean anything There's not like a bunch of exit Liquidity here Anyway there there really isn't like There's it's traded on one exchange on The planet so the fact that it's Extremely volatile should not be Surprising but then as more exchanges Ultimately carry that's going to be Reduced that's the point so no I'm not Worried about zaha taking off and if it Does good because I'm telling you if we Have a world whereas the how is wildly Adopted then you're always going to have This thing where people if it's cheaper To purchase xrp burn Min they're going To do that that's why you're going to Have the price tied now the price can be Lower but it can't be higher unless uh I Mean I just you in what world you'd have To have like xrp itself ultimately fail Which it's already cemented in place so I I I'm going to not even talk about That in this video so you're not going To have zahal realistically ever be Higher than the price of xrp but it can Be lower why can it be lower it can be Lower because it's brand new and it's It's not used for much of anything at This point in time which is not a Slam
Against it I hope it excels I do I Really do even though I don't own it I Like to see success and maybe I will own It one day but but it right now there's So little liquidity there's so few People paying attention to it of course It's it's worth less than xrp but if if It's ever equally useful you're just Going to see this price I mean the equal Del like I said but yeah it can Absolutely be worth less than xrp which It is right now there's just a lot of Excitement in fact before it's run up it Was worth about 12 Cents so not it's it's nothing to worry About here and it's it's nothing to it If it's if you're looking at this and And and you're feeling like there's Something wrong with xrp what the hell Is wrong with xrp how is it possible at This brand new coin it's worth the same About no no that's not the right way to Look at it this thing's just wildly Volatile this isn't like a sustained Move Obviously and maybe it becomes worth way More and super I mean great I I hope the Project finds success but this is not Some sort of indication that there's Something wrong with xrp just to be Super duper clear here that's this is Just the way stuff works here so I Wanted to take some time and talk about It because there's some interesting
Perspectives about this um but I'm all For I think this is good news and I hope That it's successful because that's just Going to result in more xrp getting it's If anything helps the price of xrp That's it because it would increase Demand for xrp we should want zaha to be Wildly Successful I would love to see zah how Have a market cap at least as big as Xrps are approaching it like why why the Hell not it's not a threat to xrp it Just isn't and I've talked about that Separate video so I'm not going to get Into it here but it's not it's simply Xrp is already in place for multiple use Cases the world over it's just Increasing there's more developer Activity year over Everything looks great so no it's not a Threat and if and if zah how didn't Exist then all this activity it would Just have gone to a different smart Contract chain anyway which isn't a side Chain and then that wouldn't help uh to Increase demand for xrp but here it does Help to increase demand for xrps that's All I say on there I'm not a financial Adviser you should not buy yourself Anything because of anything I say or Right that would be a very very very bad Idea until next time to the Moon Lambo
