Binance Hack Could Accelerate Shift to DEXs, Says Standard Chartered

Standard Chartered’s digital assets research head says the recent Binance hack could accelerate a long-term shift in crypto trading toward decentralized exchanges, strengthening the case for Uniswap’s UNI token.

Geoffrey Kendrick stated in an email that the breach of the largest centralized exchange should drive further growth in the DEX-to-CEX trading ratio. He encouraged investors to re-engage with Uniswap, noting the DEX has never suffered an exploit.

Kendrick retains his $100 price target for UNI by 2030, suggesting the Binance incident is “another reason why that forecast may end up being too low.” His forecast builds on a thesis that assets locked in DeFi could reach $2.7 trillion by 2030, with Uniswap as a key venue for tokenized assets.

CoinGecko data shows the top 10 spot DEX-to-CEX ratio was 23.5% in Q2 2026, up 2.1 percentage points from Q1. Kendrick expects further negative price action in the near term, advising that a new market base will only be found after frozen assets are released and more hack details emerge.