Ether Tops $2,300 as Tokenized Fund Plans by Financial Giants Fuel Bullish Sentiment

Ether, the native token of the Ethereum blockchain, is the second-largest cryptocurrency after Bitcoin and a key asset across decentralized finance and smart-contract markets. ETH had spent roughly three months below $2,300 and lagging Bitcoin, making its recovery above a closely watched weekly moving-average threshold an important signal for traders assessing whether the prolonged period of relative weakness is beginning to reverse.

ETH jumped 25% over the latest week and climbed above $2,300 for the first time in three months, triggering a broad squeeze of bearish positions. The rebound was supported by consecutive net inflows into US spot Ether exchange-traded funds and increased institutional positioning. That combination of fresh demand and forced short covering helped Ether substantially outperform Bitcoin over the same period, marking a notable change from its recent trading pattern.

The surge in real-world asset tokenization has become a key driver of blockchain adoption in recent years by bringing traditional financial assets on-chain, with Ethereum holding a dominant position in the sector. Continued accumulation of Ether by institutional investors, coupled with deeper integration between blockchain technology and traditional financial platforms, could bring substantial capital into the market. It has also drawn greater attention to Ether's utility and the development of its ecosystem.

Ether rose 3% on July 11, 2026, after the successful launch of the Ethereum layer-2 network Robinhood Chain helped push daily transaction volume above 7.6 million. However, analysts said weak on-chain indicators, including derivatives data, could leave Ether at risk of retesting support at $1,700 if it fails to break through the key resistance level at $1,800.

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.

CryptoQuant uses the realized price of wallets holding at least 100,000 ETH as a benchmark for large holders’ cost basis, with $2,100 falling within that range. ETH has traded below this cost level only briefly since 2020, with the 2022 bear market the main exception. The market therefore views a sustained daily close above $2,100 as a key threshold for large holders to return to profit and for the trend to turn bullish.

ETH rose to $2,150 on Feb. 26, when analyst Dom said the price needed to break above $2,140 for short-term order flow to turn positive. By March 4, ETH had rebounded about 25% from below $1,800 to $2,200. CryptoQuant data showed net taker volume turning positive after nearly two months in negative territory, while U.S. spot Ether ETFs recorded net inflows of $169.4 million that day. ETH must still hold above $2,100.