Can Ethereum Hit $2.6K Next as Derivatives Stay Strong Despite DeFi Hacks?

Key Takeaways

• Ethereum derivatives data still shows strong trader confidence.

• DeFi hacks caused fear, but Ethereum’s core network stayed secure.

• Analysts now watch the $2,600 level as the next major target.

Ethereum once again became one of the biggest topics in the crypto market. Many traders now believe ETH could move toward the $2,600 price level. This optimism remains despite several major hacks in the DeFi sector.

Right now, Ethereum trades near the $2,300 to $2,400 range. The coin tried many times to move higher but failed to break strong resistance. Even then, market data still shows positive signs.

Strong Derivatives Data Helps Ethereum

The Ethereum derivatives market still looks strong. This market includes futures and options contracts that many large traders use.

Recent data shows funding rates turned positive again. Positive funding rates usually mean traders expect higher prices ahead.

Options data also looks healthy. More traders now choose call options instead of put options. This often shows confidence in price growth.

Open interest in Ethereum futures also stays high. Open interest means the total number of active contracts in the market. Large traders still keep positions open instead of leaving the market.

Experts say this is an important signal as it shows confidence even after recent market fears.

DeFi Hacks Hurt Market Sentiment

The DeFi sector faced huge losses during April 2026. Binance Research said total value locked in DeFi fell by 10.7% in one month. The sector now holds around $82.7 billion.

Reports also showed more than $635 million disappeared during crypto hacks in April alone. DefiLlama tracked 28 separate attacks during the month.

One of the biggest attacks hit KelpDAO. The hack reportedly caused losses of more than $290 million.

These hacks created fear across the crypto market. Many investors removed money from risky DeFi projects after the attacks.

Still, experts say most problems came from weak project security and not from Ethereum itself. Ethereum’s main blockchain stayed safe during these events.

Ethereum Still Leads the Market

Even after these problems, Ethereum remains the biggest blockchain for DeFi.

Current reports show Ethereum controls nearly 53% of total value locked across all blockchain networks. Most stablecoins, DeFi apps, and staking platforms still use Ethereum.

Layer 2 networks also help Ethereum grow. These networks reduce fees and make transactions faster.

Many companies and developers still choose Ethereum, given its large ecosystem and strong history.

Also Read - What Caused US Spot Ethereum ETFs to Reverse With $16.8 Million Withdrawn?

Big Investors Still Show Interest

Institutional interest in Ethereum also remains strong.

Large investors continue to watch Ethereum-related products closely. Stablecoin activity on Ethereum also stays high.

Many financial companies now test blockchain systems for digital payments and tokenized assets. A large number of these projects use Ethereum.

This long-term support helps Ethereum stay strong during market weakness.

Global Economy Still Matters

Crypto prices still depend heavily on the global economy.

Traders now watch inflation data, central bank decisions, and new crypto rules in the United States.

Recent talks about crypto regulation created hope for clearer rules in the future. Better rules could attract more large investors into the market.

Still, uncertainty remains. Bitcoin ETF outflows and weak market confidence continue to slow crypto growth.

This is one reason Ethereum still struggles near the $2,400 level.

Also Read - 10 Best DeFi Crypto Projects in 2026

Can ETH Reach $2.6K?

Many analysts now watch the $2,600 level closely.

If Ethereum moves above $2,400, stronger buying could enter the market. This may help ETH rise faster.

Current derivatives data still looks healthy. Traders do not show panic despite recent DeFi hacks.

Ethereum also continues to benefit from stablecoin growth, tokenized finance, and strong developer support.

The next few weeks may become very important for ETH. More hacks or weak global markets could slow price growth.

But for now, market data still shows confidence. Many traders continue to believe Ethereum has a chance to move toward $2,600.

FAQs

1. Why does Ethereum remain resilient despite record-breaking DeFi hacks? 

The exploits, including the $290M KelpDAO attack, targeted specific smart contract vulnerabilities rather than Ethereum’s base layer, which continues to process over 1.2 million transactions daily with zero downtime.

2. How are current derivatives signaling a potential move to $2,600? 

Funding rates have flipped positive, and open interest remains high. This suggests that 'smart money' is using the post-hack dip to build leveraged long positions, targeting a $2,600 breakout.

3. Why is the $2,400 to $2,600 range the critical battleground for ETH? 

The $2,400 level is a massive psychological barrier. A clean daily close above it would likely trigger a 'short squeeze,' rapidly pushing prices toward the $2,600 liquidity zone.

4. How has the recent 10.7% drop in DeFi TVL affected Ethereum? 

While total value locked fell to $82.7 billion, Ethereum’s market dominance actually increased to 53%. Investors are fleeing risky new protocols to return to the safety of established blue-chip apps.

5. What is the biggest catalyst for Ethereum’s recovery in late May 2026? 

The combination of stablecoin growth and the expansion of Layer 2 networks is driving massive fee-burning. This deflationary pressure, paired with institutional staking, provides the fundamental support for $2,600.