Standard Chartered Keeps $100 UNI Target After $6.3B Binance Hack

Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, has kept a $100 price target for Uniswap’s UNI token by 2030, arguing the $6.3 billion Binance hack gives investors fresh reason to favour decentralized venues, CoinCentral reported on October 31. UNI traded at $7.04, up 6.36% over 24 hours, with Bitcoin flat over the same window, according to CoinCentral.

Kendrick’s argument, carried by crypto.news and Cointelegraph as well as CoinCentral, rests on the record of the platforms rather than the immediate price action. He told Cointelegraph that Uniswap has never suffered an exploit and that the hack of the largest centralized exchange should keep raising the ratio of DEX to CEX trading.

Key facts

• UNI was at $6.87 on October 30, down 3.87% on the day, then rose 6.36% to $7.04 over the 24 hours to October 31, per CoinCentral.
• The Binance breach affected roughly $6.3 billion in crypto, was disclosed October 29, and led the exchange to suspend deposits and withdrawals during security checks, crypto.news reported.
• UNI futures volume jumped 221% to $1.45 billion on October 30, the highest level since September 24, while open interest slipped from $604 million to $587 million, according to CoinCentral.
• CoinGecko data cited by crypto.news and Cointelegraph put the top-10 spot DEX-to-CEX volume ratio at 23.5% in the second quarter of 2026, up 2.1 percentage points from the first quarter.
• CoinCentral reported support at $6.40 on the daily chart and resistance at $7.50, while analyst Don, posting as @DonWedge, set a $5 to $6.60 retest zone with an $18 target if it holds.

Two reports, two prices for the sell-off

The outlets describe the initial damage differently. CoinCentral put UNI at $6.87 on October 30, down 3.87% for the day, then at $7.04 the next day. crypto.news and Cointelegraph both reported a 10.4% drop to $6.48 after the breach, with Aave’s AAVE down 11.3% to $118.54 in the same selling, according to those outlets.

Kendrick also tempered the call. He told Cointelegraph the market may keep falling and will find a new base only once frozen assets are unfrozen and more detail of the attack emerges; crypto.news cited him saying the negative price action still has some way to go. crypto.news also reported that Binance had frozen about $3 billion of affected assets and pledged to cover customer losses through its Secure Asset Fund for Users and company reserves. The exchange’s preliminary investigation pointed to a compromised DevOps engineer’s laptop, it reported, with no evidence found that a wallet private key leaked.

The DEX share was already climbing

crypto.news reported that the 23.5% DEX-to-CEX ratio came in a quarter when both sides shrank: volume on the 10 largest DEXs fell 26.5% to $408.9 billion, while centralized venues recorded $1.95 trillion, down 27.9%. Uniswap stayed the biggest decentralized spot exchange with 41.2% of top-10 volume at $168.5 billion, ahead of PancakeSwap on $80.7 billion, even as its volume fell 21.4%. Binance held a 38.7% share of centralized spot volume in the same period.

Standard Chartered has separately projected that assets deposited and staked on DeFi platforms will reach $2.7 trillion by 2030, with Uniswap taking the largest share as its liquidity pools grow 37 times, CoinCentral reported.

Why it matters

The hack has handed an established bank forecast an argument it did not have before: that trust in a single exchange’s custody is now a competitive weakness. For Uniswap holders, the case is long-dated, tied to a share shift that was already underway for two quarters. HYPE wrote the opposite story in the same window, gaining about 15% after ICE said it would work with Trade.xyz on a regulated US perpetual futures market, crypto.news reported.

What to watch

The near-term signal is whether the $6.40 daily support holds; CoinCentral said a close below it could open $5.90 and then $4.43. Also watch the release of frozen funds and further disclosure on the attack, which Kendrick named as the conditions for a durable base. crypto.news reported that the ICE and Trade.xyz venture still needs Commodity Futures Trading Commission approval, with no launch date announced.

None of the price targets above is financial advice, and crypto markets remain volatile and uncertain.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: CoinCentral, crypto.news, Cointelegraph