Uniswap Could Benefit From Binance Hack as Standard Chartered Eyes DEX Growth

Standard Chartered expects the $6.3 billion (roughly Rs. 59,768.1 crore) Binance hack to make more people use decentralised exchanges, with the Uniswap platform set to be a beneficiary, as investors think about how much they can trust centralised exchanges. As per remarks made to Cointelegraph, Geoffrey Kendrick, who is the global head of digital assets research at Standard Chartered, claims that the hacking incident may push traders to adopt decentralised exchanges, or DEXs, after the initial market response dies down. 

Standard Chartered Maintains $100 Uniswap Price Target Despite Market Uncertainty

However, Kendrick warned that cryptocurrency prices could face further losses before the market stabilises, as investigators continue examining the attack and efforts to recover the stolen funds remain underway. His opinion follows the hacking of Binance on October 29, in which around $6.3 billion (roughly Rs. 59,768.1 crore) worth of cryptocurrencies was stolen, forcing the exchange to stop deposits and withdrawals due to security checks. According to Kendrick, there may be more trades that will happen on decentralised exchanges due to the hack, particularly as investors assess the risks of keeping their assets on centralised platforms. 

Kendrick specifically mentioned Uniswap as one platform that could gain and recommended investors look into the decentralised exchange again once the current market shock passes. “I would encourage investors to re-engage with Uniswap,” Kendrick added that the security record of the platform and the attack on Binance would enable decentralised exchanges to take a larger market share of cryptocurrency trading. 

However, the analyst set his price target of $100 (roughly Rs. 9,480) for the token by 2030 despite noting that the most recent event may even make the case stronger for an even higher valuation. “This is another reason why that forecast may be too low,” Kendrick said. It comes after Standard Chartered forecasted that decentralised finance assets will hit a valuation of $2.7 trillion (Rs. 2,56,14,900 crore) by 2030. 

In that scenario, Uniswap would be able to establish itself as one of the trading venues for tokenised assets as more financial products are built using blockchain technology. That prediction is long-term in nature, however, as Kendrick made no indication that the decentralised trading platforms would benefit from the disruption immediately following the hack.

Decentralised exchanges had begun taking up more market share even before the Binance attack, based on crypto exchange market data published earlier this year. The CoinGecko Q2 industry report found that the trading volume share between the top 10 spot decentralised and centralised exchanges was at 23.5 percent in the second quarter of 2026, 2.1 percentage points higher than the previous quarter.

The numbers were realised even amid a drop in trading volumes for both types of exchanges. Trading volumes for the 10 largest decentralised exchanges dropped by 26.5 percent to $408.9 billion (roughly Rs. 38,79,234.3 crore), while the centralised exchanges had trading volumes of $1.95 trillion (roughly Rs. 1,84,99,650 crore), which is a drop of 27.9 percent from the first quarter.

Uniswap continued to be the biggest decentralised spot exchange in the quarter, representing 41.2 percent of the total trading volume of the top 10 exchanges ranked by CoinGecko. Its trading volume was $168.5 billion (roughly Rs. 15,98,559.5 crore), marking a decline of 21.4 percent compared to the previous quarter, followed by PancakeSwap with $80.7 billion (roughly Rs. 7,65,600.9 crore).

The statistics indicate that decentralised exchanges made gains on their centralised rivals despite the reduction in trading volumes within the cryptocurrency market. Nevertheless, Binance still stood as the biggest centralised spot exchange with a 38.7 percent share of trading volumes among the top 10 exchanges during the second quarter.