• Injective Protocol (INJ) is a decentralized exchange (DEX) which provides cross-chain margin trading, derivatives, and currency futures trading.
• Injective Protocol, unlike other prominent decentralized exchanges, does not use an automated market maker (AMM) algorithm to maintain liquidity but rather utilizes the order book concept.
• The current market status of INJ is a 24-hour trading volume of $58,336,674 and 24-hour price change of 2.1% up with a circulating supply of 78,005,555 and an all-time high of $24.89 on April 30, 2021.

Injective Protocol (INJ) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading. The Injective Protocol is a Layer 2 application developed on the Cosmos blockchain. The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as Ethereum and Polkadot. This enables traders to gain access to a wide range of digital assets without having to move them onto the Injective Protocol. This is an important feature as it eliminates the need to use custodial wallets, providing greater security and privacy for traders.

Injective Protocol, unlike other prominent decentralized exchanges such as Uniswap and Bancor, does not use an automated market maker (AMM) algorithm to maintain liquidity. Instead, Injective utilizes the order book concept, which has been extensively adopted by centralized stock and cryptocurrency exchanges for many years. This means that users can place orders for certain assets and the system will automatically match buyers and sellers. This allows for better price discovery, more liquidity, and lower fees, making it an attractive option for traders.

In addition, the Injective Protocol also offers various trading tools such as limit orders, stop-loss orders, and margin trading. This allows traders to take advantage of market volatility and maximize their profits. Moreover, Injective Exchange traders only pay regular market maker and taker fees using INJ coins, rather than network gas fees for each transaction. INJ coins also act as the platform’s governance token and staking mechanism, enabling users to earn rewards for staking their INJ coins.

The current market status of INJ is a 24-hour trading volume of $58,336,674 and 24-hour price change of 2.1% up with a circulating supply of 78,005,555 and an all-time high of $24.89 on April 30, 2021. As such, many analysts are predicting a bullish INJ price prediction for 2023, with some predicting it could reach as high as $10.537. However, there are also bearish predictions for INJ, with some analysts predicting a price of $1.124 in 2023.

Ultimately, it remains to be seen whether INJ will reach the bullish predictions or fall to the bearish predictions. Nonetheless, the Injective Protocol is an innovative and exciting project that could revolutionize the decentralized exchange space. It is a project worth keeping an eye on and could be one of the most promising projects of the year.

Bullet Points:
• CZ, the CEO of Binance, recently predicted that traditional finance will suffer from the effects of crypto adoption.
• TradeFi institutions reduced their commitments to crypto after the collapse of FTX in 2022.
• CZ believes that the failure of certain crypto projects will put traditional finance behind the adoption curve, leading to catastrophic consequences in 10–20 years.

The year of 2022 saw the failure of some of the leading cryptocurrency projects, such as Terra Labs, Voyager Digital, Celsius Network, Alameda Research, and FTX. This unfortunate event has posed a major challenge for the traditional financial sector to adopt crypto technology and move forward with the innovation. As a result, the TradeFi institutions have taken a step back from their commitments to crypto, leading to a significant downturn in cryptocurrency adoption.

In response to this, Changpeng Zhao (CZ), the CEO of Binance, the world’s largest cryptocurrency exchange, has predicted that traditional finance will suffer from the effects of crypto adoption. During a tweet thread, CZ noted that the failure of certain cryptocurrency projects during the previous year has posed a challenge for traditional financial players to adopt the crypto technology. These occurrences will put TradeFi behind the adoption curve, which could have existential consequences for them in 10–20 years, as per Zhao.

In spite of the setbacks in the crypto domain in 2022, CZ is optimistic about the long-term growth of the industry. He believes that the short-term effects of the failed crypto projects have hampered the industry’s growth, but the recovery has already begun. He further noted that the centralized financing system is expected to have catastrophic consequences if the traditional financial sector does not embrace crypto technology.

In conclusion, CZ’s new forecast has raised new expectations regarding traditional finance. His predictions are indicative of the fact that the failure of certain crypto projects in 2022 has posed a significant challenge for the traditional financial sector to embrace crypto technology. The TradeFi institutions have already reduced their commitments to cryptocurrencies in response to the massive downfall of the crypto domain in 2022, and CZ believes that these occurrences will put them behind the adoption curve, leading to catastrophic consequences in 10–20 years.