eGirl Capital and Larry Cermak on the dynamics shaping the crypto bear market

Episode 108 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro and Larry Cermak and eGirl Capital Co-Founder, Hedgehog.

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Crypto-native venture firm eGirl Capital is a syndicate of pseudonymous individuals who invest in early-stage web3 projects, and provide colorful market commentary on Twitter.

In this special segment of The Scoop, Frank Chaparro is joined by The Block’s VP of Research, Larry Cermak, and eGirl Capital’s Co-Founder, Hedgehog, to discuss how this crypto bear market compares to previous cycles, and to explain how investors can spend this drawdown building an edge for the next bull market.

According to Hedgehog, who is primarily a directional trader, crypto market conditions are suffering because there is less credit in the system. “Less credit leads to less liquidity and less volume,” says Hedgehog, “It’s really a wasteland out there for us at the moment.”

As data from The Block shows, daily crypto exchange volume is close to half of what it was at the start of the year–although have ticked up in recent days.

During this period of reduced market activity, Cermak says it is important not only to be patient, but also to stay engaged:

“A lot of people stay patient, but actually stop paying attention day-to-day. Those people that actually stay engaged… are in the best position for the next cycle, and they’re also the ones that will be able to the most accurately predict when activity starts picking up again.”

During this episode Cermak, Chaparro, and Hedgehog also discuss:

  • The pros and cons of crypto conferences
  • How some crypto traders are turning to other assets
  • Why some recent DeFi ‘exploits’ were likely inside jobs

This episode is brought to you by our sponsors Tron, Ledn, Athletic Greens

About Tron
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

About Ledn
Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit

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