Ether Derivatives Hold Steady as DeFi Hacks Fail to Dent Bullish Sentiment, With $2,600 in Sight
Ether is the core asset underpinning Ethereum’s DeFi and application economy, while derivatives positions provide a gauge of professional traders’ risk appetite. DefiLlama data shows Ethereum accounts for 53% of total value locked across blockchains. U.S. spot Ether ETFs have $11.6 billion in assets under management, providing significant support for institutional demand and putting the market impact of the hacks in focus.
On May 12, 2026, the annualized funding rate for ETH perpetual futures stood at 5%. Put volumes on Deribit have remained below call volumes since May 4, indicating that the market has not turned bearish. Even after Kelp DAO, Ekubo and TrustedVolumes suffered thefts of more than $290 million, $1.4 million and $6.7 million, respectively, ETH continued to hold the roughly $2,200 support zone, keeping the $2,600 target in play.
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The history behind this eventEther Tops $2,300 as Tokenized Fund Plans by Financial Giants Fuel Bullish Sentiment
Ether is the native asset of the Ethereum network and a key foundation for trading and settling tokenized funds. JPMorgan and BlackRock plan to launch tokenized funds on Ethereum, reflecting major financial institutions’ efforts to bring traditional asset management onto blockchain rails. The plans have therefore become an important gauge of institutional adoption and demand for ETH.
According to the latest report, ETH had recovered to $2,300, though no exact publication date, fund size or launch schedule was provided. Traders said the price remained in a bottoming consolidation phase, with $2,400 serving as key near-term resistance. A decisive break above that level could trigger a stronger rally, while rejection would leave the market vulnerable to a pullback.
Ethereum Whale Opens $90.8 Million Long as ETH Eyes $3,230
Ethereum is the second-largest crypto asset by market capitalization, while Hyperliquid is a decentralized trading platform focused on perpetual futures. The whale used 20x leverage to bet on an ETH rally. The position, worth about $90.8 million, has become an important gauge of market risk appetite and short-term capital flows because of its size.
Reports said the whale recently opened an ETH long position worth about $90.8 million on Hyperliquid, but did not disclose the exact date it was established. ETH has formed an ascending triangle on the technical chart, and analysts expect a breakout above consolidation resistance could put the short-term price target at $3,230. The 20x leverage also carries significant liquidation risk if the price pulls back.
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