<p><i>Episode 6</i><b><i> </i></b><i>of Season 5 of The Scoop was recorded remotely with <strong>The Block's Frank Chaparro and eGirl Capital Co-Founder Hedgedhog.</strong></i></p> <p><i>Listen below, and subscribe to The Scoop on </i><a href="https://podcasts.apple.com/us/podcast/the-scoop/id1460134454"><i>Apple</i></a><i>, </i><a href="https://open.spotify.com/show/7qwrgTJ5CYDXAaVILNZuEd"><i>Spotify</i></a><i>, </i><a href="https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vdGhlYmxvY2stdGhlc2Nvb3A?sa=X&amp;ved=0CAMQ4aUDahcKEwionbSO9fbxAhUAAAAAHQAAAAAQAg"><i>Google Podcasts</i></a><i>, </i><a href="https://www.stitcher.com/podcast/the-block-2/the-scoop-4"><i>Stitcher</i></a><i> or wherever you listen to podcasts. Email feedback and revision requests can be sent to podcast@theblockcrypto.com.<br /> </i></p> <p><iframe frameborder="0" height="200" src="https://playlist.megaphone.fm/?e=BLOCK2931145585" width="100%"></iframe></p> <hr /> <p><span style="font-weight: 400;">Since the start of 2023, the total crypto market cap has risen over 20%, and daily exchange volume has nearly tripled, according to data from The Block Research. </span></p> <p><span style="font-weight: 400;">In this Market Pulse edition of The Scoop, The Block's VP of Research Larry Cermak and eGirl Capital's Hedgedhog discuss the dynamics shaping the crypto market's current rally, and explain why they aren't holding out hope for a sustained uptrend.</span></p> <p><span style="font-weight: 400;">According to Cermak, crypto is lacking a strong enough narrative to be able to break free from broader macro uncertainty.</span></p> <p><span style="font-weight: 400;">"I think the biggest difference is that right now we don't really have anything to kind of drive the rally to have legs under it, and I think there's still a lot of uncertainty in the macro markets," he said.</span></p> <p><span style="font-weight: 400;">Hedgedhog shares Cermak's doubts about the current trend, noting how quickly retail market participants have begun displaying risk-on behavior: </span></p> <blockquote> <p><span style="font-weight: 400;">"We're seeing a lot of degenerate behavior coming back really quickly — Canto and all these new NFTs, and there are new Ohm forks … people haven't really learned anything, and they're really risk-on already."</span></p> </blockquote> <p><i><span style="font-weight: 400;">During this episode, Chaparro, Cermak, and Hedgedhog also discuss:</span></i></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">How traders are positioning for Ethereum's Shanghai upgrade</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Why the NFT market is set to decorrelate from crypto</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">A look inside the centralized exchange turf war</span></li> </ul> <hr /> <p><span style="font-family: georgia, palatino, serif; font-size: 12pt;"><b>This episode is brought to you by our sponsors <i><a href="https://www.circle.com/">Circle</a>, <a href="https://railgun.app.link/thescoop">Railgun</a>, <a href="https://flare.network/?utm_source=TDE&amp;utm_medium=Podcast&amp;utm_campaign=TheBlock">Flare Network</a>, <a href="http://nordvpn.com/thescoop">NordVPN</a></i><em><br /> </em></b><strong><br /> About Circle<br /> </strong><em>Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit <a href="https://www.circle.com/">Circle.com</a> to learn more.</em></span></p> <p><span style="font-family: georgia, palatino, serif; font-size: 12pt;"><strong>About Railgun<br /> </strong><em>RAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project <a href="https://railway.app.link/thescoop">Railway Wallet</a>, also available on iOS and Android. Visit <a href="https://railgun.app.link/thescoop">Railgun.org</a> to find out more.<br /> </em></span></p> <p><span style="font-family: georgia, palatino, serif; font-size: 12pt;"><strong>About Flare<br /> </strong><em>Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at <a href="https://flare.network/?utm_source=TDE&amp;utm_medium=Podcast&amp;utm_campaign=TheBlock">Flare.Network</a></em></span></p> <p><span style="font-family: georgia, palatino, serif; font-size: 12pt;"><strong>About NordVPN<br /> </strong><em>NordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit <a class="c-link" tabindex="-1" href="https://nordvpn.com/thescoop" target="_blank" rel="noopener noreferrer" data-stringify-link="https://nordvpn.com/thescoop" data-sk="tooltip_parent" data-remove-tab-index="true">https://nordvpn.com/thescoop</a></em></span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>