Standard Chartered reaffirms Uniswap $100 target after $6.3B Binance hack

A recent security breach involving Binance, the world’s largest centralized cryptocurrency exchange, may fuel increased adoption of decentralized trading platforms, according to Geoffrey Kendrick, global head of digital assets research at Standard Chartered. Kendrick stated that the incident with Binance is likely to accelerate the migration of crypto traders to decentralized exchanges (DEXs) like Uniswap. He noted that Uniswap has never experienced an exploit and suggested that its share of overall crypto trading could see further gains against centralized exchanges (CEXs) as a result of recent events. “I would encourage investors to re-engage with Uniswap,” Kendrick remarked.