Standard Chartered: The Decline May Continue!
While the decline has unnerved the market, banking giant Standard Chartered warned that the market downturn may not be over yet.
Speaking to Coindesk, Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, stated that selling pressure following the Binance attack could continue for some time.
According to Kendrick, for a new balance to be established in the market, the status of the frozen assets must be clarified and the details of the attack must be revealed.
Kendrick also noted that the attack could accelerate investors’ shift towards decentralized trading platforms, a development that could support Uniswap’s long-term growth potential. He added that the bank maintains its UNI price target of $100 for 2030.
Kendrick also stated that the Binance attack was a new development that strengthened the possibility of exceeding their previously predicted price forecast.
*This is not investment advice.
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