A Binance hack could accelerate a shift in crypto trading from centralised exchanges (CEX) to decentralised exchanges (DEX), a forecast said.

Cointelegraph reported on Oct. 30 that Geoffrey Kendrick (Geoffrey Kendrick), Standard Chartered’s global head of digital asset research, analysed that the incident could work in Uniswap’s favour over the long term.

In an email to Cointelegraph, Kendrick said DEX trading share would rise further relative to CEX after the Binance hack. He said he recommends investors pay attention to Uniswap again. He said no hacking incidents have occurred at decentralised exchanges so far and that the incident at Binance, the largest centralised exchange, would keep raising the DEX-to-CEX trading ratio. He added that investors need to watch until the impact of the incident is reflected in the market.

DEX trading share is rising. CoinGecko data showed that in the second quarter of 2026, the trading volume of the top 10 spot DEX amounted to 23.5 percent of the top 10 CEX volume, up 2.1 percentage points from the first quarter.

Kendrick also maintained a 2030 target of $100 for Uniswap’s UNI token. He assessed the Binance hack as "another reason why that target may in fact have been set too low." That is based on Standard Chartered’s existing outlook that assets deposited in decentralised finance (DeFi) could reach $2.7 trillion by 2030 and that Uniswap would establish itself as a key trading platform for tokenised assets.

The short-term market outlook is negative. Kendrick said crypto prices could fall further for some time due to the fallout from the Binance hack. "Only after asset freezes are lifted and more details about the hack are disclosed will we be able to confirm a new bottom," he said.

After the Binance hack, the crypto market continued to fall. Cointelegraph said BNB fell more than 8 percent over 24 hours and bitcoin traded around $77,000. DeFi-related tokens also weakened. Aave fell 11.3 percent to $118.54 and Uniswap dropped 10.4 percent to $6.48.

Kendrick’s outlook focuses on the possibility that the security incident could lead to a structural shift in the crypto trading market, beyond a short-term price decline. But whether DEX share expands and Uniswap’s long-term value rises will depend on future market moves and the process of handling the Binance incident.