# Major Bank Warns of Further Crypto Declines, Keeps $100 Target for This Altcoin

> Standard Chartered expects crypto’s decline to continue following the Binance attack, while maintaining its 2030 price target of $100 for Uniswap’s UNI token, citing expectations of a shift toward decentralized…

**Standard Chartered expects crypto’s decline to continue following the Binance attack, while maintaining its 2030 price target of $100 for [Uniswap’s](https://koinbulteni.com/en/coins/uniswap) UNI token, citing expectations of a shift toward decentralized exchanges.**

In an assessment reported by CoinDesk, **Geoffrey Kendrick**, the bank’s head of digital asset research, said a series of security incidents at Binance and Polymarket could keep prices under pressure for some time. But alongside his near-term bearish outlook, the analyst believes **decentralized exchanges could gain a larger share over the long term**.

### When could the crypto market bottom?

According to Kendrick, the negative price action may not be over yet. The analyst said the market could find a new floor once freezes on assets linked to the incident are lifted and the details of the attack become clear. He did not give a specific date or Bitcoin price level for this outlook.

Following the security incident, which Binance said **affected about $6.3 billion in assets**, stablecoin issuers took steps to freeze funds. Tether reported freezing **more than $1.567 billion in USDT**, while Circle said it had frozen **more than $800 million in USDC**. First Digital also announced that FDUSD stolen in the attack had been frozen.

### Why did the $100 target for UNI remain unchanged?

Kendrick argues that security concerns at centralized exchanges could drive investors toward **decentralized trading platforms such as Uniswap**. He expects trading volume on decentralized exchanges to grow faster than on centralized exchanges.

Based on this view, the analyst **kept his 2030 price target for UNI at $100**; he also said the Binance attack offered an additional reason why his current estimate could prove too low over the long term. So $100 is not a newly announced or raised target, but the bank’s existing long-term outlook.

We covered reports that institutions were withdrawing assets from centralized exchanges in [our previous article](https://koinbulteni.com/en/institutions-pull-crypto-from-exchanges-after-binance-attack-291425.html). Kendrick’s comments focus on how this behavior could affect decentralized exchanges’ share of trading in the future.

### HYPE diverges as UNI falls

In the Friday morning price snapshot cited in the article, Bitcoin was trading at around **$77,400 after briefly nearing $76,000**. It was down more than 3% over the past 24 hours, while Ethereum, BNB, XRP, and Solana posted steeper declines.

Liquidations across the market reached about **$1.5 billion**. Of that, **$468 million was in Bitcoin** positions and **$358 million was in Ethereum** positions; long positions accounted for the largest share.

Decentralized exchange tokens were also hit by the sell-off. **UNI fell more than 3%, while HYPE rose 15%, bucking the trend.** HYPE’s move came after Intercontinental Exchange, the owner of the New York Stock Exchange, announced plans to bring perpetual futures based on Trade.xyz and Hyperliquid infrastructure to the U.S. The plan is **subject to regulatory approval**.