Spot ETH ETF inflows hit 10-day streak: Will Ether rally to $3K next?

Key takeaways:

• The spot ETH ETFs recorded 10 consecutive days of nett inflows, totaling $633 million.
• Weekly DApps gross connected the Ethereum web fell to $13 million, pursuing a broader diminution seen successful Solana and BNB Chain.

Ether (ETH) struggled to commercialized supra $2,400 connected Thursday, but accordant inflows into Ethereum spot exchange-traded funds (ETFs) bespeak the bulls’ effort to regain momentum. Ether's terms rallied alongside Bitcoin’s (BTC) betterment to $79,000, prompting traders to question whether ETH volition effort a tally to $3,000.

Spot ETH ETF regular nett flows, USD. Source: SoSoValue

On Wednesday, the ETH spot ETFs completed 10 consecutive days of nett inflows, totaling $633 million. This shows that traders are gradually reclaiming assurance aft ETH abruptly fell by 42% betwixt Jan. 28 and Feb. 6. The cryptocurrency marketplace clang reduced involvement successful decentralized applications (DApps), which proved particularly burdensome for ETH investors.

Weekly DApps gross by chain, USD. Source: DefiLlama

DApp revenues connected the Ethereum web dropped to $13 cardinal per week successful April, astir 50% little than six months prior. However, the diminution successful decentralized speech (DEX) volumes has besides plagued different large competitors to a akin extent, including Solana, BNB Chain, and Hyperliquid. The aggregate play blockchain DApps gross has fallen to $73 million, down from $130 cardinal successful October 2025.

Ethereum well-positioned to seizure request for DApps

Despite caller bullish momentum, ETH is down 22% year-to-date successful 2026, portion the broader cryptocurrency marketplace capitalization is down 14%. Ether’s underperformance whitethorn beryllium interpreted arsenic a buying opportunity, particularly arsenic the Ethereum web remains the person successful full worth locked (TVL) and its layer-2 solutions person gained important marketplace stock successful DEX volumes.

Regardless of the ETF inflows, the request for bullish leveraged ETH positions has plummeted to its lowest level successful 4 months.

ETH 2-month futures ground rate. Source: Laevitas

The annualized ETH monthly futures premium comparative to regular spot markets (basis rate) dropped to 1% connected Thursday, good beneath the 4% neutral threshold. Still, it is incorrect to presume that nonrecreational traders are bracing for downside solely owed to a deficiency of assurance successful derivatives markets. The uncertain macroeconomic situation mightiness explicate trader skepticism, particularly aft large tech companies' quarterly net disappointed investors.

IBM (IBM US) shares dropped astir 10% connected Thursday owed to capitalist concerns regarding accrued contention from the artificial quality sector, according to Yahoo Finance. In parallel, Morgan Stanley trimmed its terms people connected Oracle (ORCL US) owed to uncertainty successful the borderline illustration and buildout costs of the company’s expanding concern successful AI computing information centers.

Related: BlackRock drives 7-day Bitcoin ETF inflow streak arsenic BTC nears $80,000

ETH vs. BNB, SOL, AVAX. Source: TradingView

Ether’s imaginable bullish momentum apt depends connected reduced hazard aversion toward cryptocurrencies, arsenic its terms illustration comparative to immoderate competitors shows striking similarities. The caller spot Ether ETF inflows, portion relevant, are not capable to warrant a decoupling, particularly arsenic enactment successful the DApps assemblage has yet to amusement signs of improvement.

There is nary denotation that ETH is bound for $3,000, but the Ethereum web seems well-positioned to seizure an eventual pickup successful request for decentralized computation.