The breach of Binance is seen accelerating the shift of crypto trading volume from centralized exchanges to decentralized platforms. Standard Chartered’s Head of Global Digital Assets Research, Geoffrey Kendrick, believes the compromise of the world’s largest CEX is driving a faster liquidity migration. Kendrick urged market participants to take another look at Uniswap, emphasizing the protocol’s track record of never having suffered a single security exploit.
News of the Binance hack did not prompt Standard Chartered to lower its Uniswap price estimate. Instead, the incident makes the longstanding target set by the multinational bank potentially too low.
Exploit-Free Track Record
Standard Chartered is maintaining its $100 per-token price target for Uniswap (UNI) through 2030. The bank stated that the breach of the world’s largest CEX actually makes the $100 projection potentially too low. This forecast is grounded in expectations of an accelerated shift in trading volume to decentralized exchanges.
This target supports Standard Chartered’s previous thesis on the decentralized finance (DeFi) sector. The bank projects that total value locked (TVL) across DeFi could surpass $2.7 trillion by 2030. Uniswap is positioned to play a vital role as the primary liquidity hub for trading tokenized assets.
Spot Ratio Tops 23.5%
The market’s shift toward automated platforms is reflected in quarterly trading data. CoinGecko research noted that the spot trading volume ratio of the top 10 DEXs compared to CEXs reached 23.5% in the second quarter of 2026. This figure rose 2.1 percentage points compared to the first quarter of 2026.
The growth in spot market share shows capital rotation had already begun flowing to DEXs before the breach occurred. For Kendrick, the Binance hack serves as a factor accelerating the pace of trading volume shifting from CEXs to DEXs.
When Selling Pressure Will Ease
Even though Uniswap’s long-term projection remains set high, short-term crypto market dynamics still face turbulence. Kendrick expects the digital asset market will continue to be overshadowed by selling pressure and negative price action.
The price decline is expected to persist until frozen assets have their status confirmed. In addition, market pressure is likely to ease only after details from the investigation into the Binance attack are fully revealed.
For market participants, Kendrick’s analysis separates daily panic from the long-term direction of capital: price pressure may linger while the Binance investigation is underway, but exchanges with no hack record are now leading the liquidity shift.
Reported by Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
