Standard Chartered sees Binance breach as catalyst for DEX growth

Geoffrey Kendrick, the bank’s global head of digital assets research, maintains a $100 price target for Uniswap’s UNI token by 2030, noting that the recent hack strengthens the case for an even higher valuation. Kendrick expects volatility to persist as investigators continue to analyze the unauthorized wallet transactions and the potential release of frozen assets, but views the incident as a turning point for investor behavior.

Data from CoinGecko indicates that decentralized exchanges were already capturing market share before the October 29 attack. In the second quarter of 2026, the volume ratio between top decentralized and centralized spot exchanges reached 23.5%, a 2.1 percentage point increase from the previous quarter. During this period, Uniswap maintained its lead with a 41.2% share of decentralized spot volume, totaling $168.5 billion. While the broader market remains under pressure—with UNI falling over 10% following the breach—some assets have defied the trend. Hyperliquid’s HYPE token climbed approximately 15% after the Intercontinental Exchange announced plans to collaborate with Trade.xyz on a regulated perpetual futures market.