Binance hack could accelerate shift to DEXs: Standard Chartered

Standard Chartered’s Geoffrey Kendrick says the breach could accelerate a shift toward decentralized trading and strengthen his case for Uniswap’s UNI token reaching $100 by 2030.

The Binance hack could accelerate a shift in crypto trading toward decentralized exchanges, benefiting Uniswap over the longer term, according to Standard Chartered’s global head of digital assets research, Geoffrey Kendrick.

In an email shared with Cointelegraph, Kendrick said the breach should drive further growth in decentralized exchanges’ share of trading relative to centralized platforms, though investors should wait until after the impact of the Binance attack has time to play out in the markets.

“I would encourage investors to re-engage with Uniswap,” said Kendrick. “The decentralized exchange (DEX) has never had any exploits, and the hack of the largest centralized exchange (CEX), in Binance, should see the ratio of DEX to CEX trading continue to increase.”

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