Ether Edges Up to $2,290 but Remains Down 15% in a Month as Ethereum Bore Brunt of Binance's Record Hack

Ether, the second-largest cryptocurrency, edged higher on Monday but remained well below its levels of a month ago, as crypto markets continued to digest the record hack of Binance.Ether rose $16.61, or 0.

73%, to $2,289.61 as of about 10:25 a.m.

Eastern time.The cryptocurrency, which powers the Ethereum blockchain, has a market value of roughly $280 billion.Ethereum hit hardest in hackThe Ethereum network was the most affected blockchain in the $6.

3 billion theft from Binance on Oct. 29, the largest crypto heist on record.Hackers stole about $3.

8 billion in assets on Ethereum, more than on any other blockchain. One transaction alone was worth more than $2.5 billion.

Blockchain analysts have linked the attack to TraderTraitor, a hacking group tied to North Korea.Binance has pledged to cover all losses and reopened withdrawals on Sunday. Customers withdrew a net $3.

64 billion on the first day, the exchange said, adding that it has replaced about 95% of stolen funds from its reserves.Modest recoveryMonday's small gain extended a slight rebound. Ether traded at about $2,266 on Sunday morning, according to Fortune.

But the cryptocurrency remains under pressure. Ether traded at about $2,707 a month ago, meaning it has fallen nearly 16% over the past month.It is down more than 41% from a year ago, when it traded near $3,906.

Ether is far below its all-time high of $4,946, set in August 2025.A difficult yearEther has struggled throughout 2026. The cryptocurrency fell sharply early in the year amid recession worries and reports that Ethereum co-founder Vitalik Buterin had sold millions of dollars worth of ether, according to Fortune.

Like other cryptocurrencies, ether has been affected by expectations that interest rates will remain high, which tends to reduce investor appetite for riskier assets.Trading activityDaily trading volume for ether was about $7.1 billion on Monday, according to MetaMask data.

Crypto market steadiesThe broader crypto market has held up better than many traders expected after the Binance hack. Bitcoin was trading near $78,000 on Monday, down about 5% from its level before the hack was disclosed.Analysts have attributed the relative calm to Binance's swift promise to cover all losses, which has eased fears of contagion across the industry.

Security concernsThe hack has raised fresh questions about the security of centralized exchanges and the technology used to manage crypto wallets.Investigators have said a compromised device and an exploit related to Ethereum account features may have played a role in the attack, highlighting the risks of increasingly complex blockchain systems.What's nextInvestors will be watching how smoothly Binance processes withdrawals in the coming days and whether more stolen funds can be recovered or frozen.

Broader market events this week, including Tuesday's U.S. midterm elections and Friday's jobs report, could also influence ether's direction.