Spot ETH ETF inflows have recorded a 10-day streak, totaling $633 million. This surge raises a key question: Will Ether rally to $3,000 next?
Spot ETH ETF Inflows Hit 10-Day Streak
New York, NY – April 24, 2026. Data from SoSoValue shows that spot Ether ETFs saw net inflows for ten consecutive trading days. The total reached $633 million. This marks the longest inflow streak since the products launched in July 2025.
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The inflows come after a sharp price drop. Ether fell 42% between January 28 and February 6. The cryptocurrency market crash reduced investor confidence. But the recent ETF inflows suggest a gradual recovery.
On Wednesday, the spot ETH ETFs completed their tenth day of positive flows. This signals that traders are slowly regaining confidence. The inflows are significant, but they are not yet enough to guarantee a rally to $3,000.
What the Data Shows
According to SoSoValue, the daily net flows for spot ETH ETFs have been consistently positive. The chart shows a steady upward trend. This is a bullish signal for Ether’s price.
However, the inflows are still modest compared to Bitcoin ETF flows. Bitcoin ETFs have seen over $10 billion in net inflows since January 2026. The comparison highlights Ether’s relative underperformance.
Ethereum DApps Revenue Declines
While ETF inflows are positive, the Ethereum network faces challenges. Weekly DApps revenue on Ethereum fell to $13 million in April. This is nearly 50% lower than six months prior.
Data from DefiLlama shows that the decline is not unique to Ethereum. Solana, BNB Chain, and Hyperliquid also saw similar drops. The aggregate weekly blockchain DApps revenue fell to $73 million, down from $130 million in October 2025.
The drop in DApps revenue is concerning for ETH investors. Lower activity means less demand for Ether as gas fees. This could limit price upside.
DEX Volumes Also Drop
Decentralized exchange volumes have also declined. This affects all major blockchains. The broader market downturn is the main cause.
But Ethereum’s layer-2 solutions have gained market share in DEX volumes. This shows that the network is still competitive. The decline in revenue may be temporary.
Ether Price Struggles Above $2,400
Ether’s price struggled to trade above $2,400 on Thursday. This is despite the ETF inflows. Bitcoin’s recovery to $79,000 helped, but Ether lagged.
Year-to-date in 2026, Ether is down 22%. The broader cryptocurrency market cap is down 14%. This underperformance is a concern for bulls.
But some analysts see it as a buying opportunity. Ethereum remains the leader in total value locked. Its layer-2 solutions are growing. The network is well-positioned for future demand.
Derivatives Market Shows Caution
The derivatives market tells a different story. The annualized ETH monthly futures premium dropped to 1% on Thursday. This is well below the 4% neutral threshold.
This low basis rate suggests that professional traders are cautious. They are not willing to pay a premium for leveraged long positions. This is a bearish signal.
But the cautious stance may be due to macroeconomic uncertainty. Major tech companies’ earnings disappointed investors. IBM shares dropped nearly 10% on Thursday. Morgan Stanley trimmed its price target on Oracle.
Macroeconomic Uncertainty Weighs on Crypto
The uncertain macroeconomic environment is affecting all risk assets. Cryptocurrencies are not immune. The disappointing tech earnings have increased risk aversion.
According to Yahoo Finance, IBM’s drop was due to concerns about AI competition. Oracle’s price target cut was due to uncertainty in margin profiles. These factors are weighing on investor sentiment.
This suggests that Ether’s rally depends on broader market conditions. If risk aversion decreases, Ether could benefit. But if uncertainty persists, the rally may stall.
Ether vs. Competitors
Ether’s price chart relative to competitors shows striking similarities. BNB, SOL, and AVAX have all followed similar patterns. This indicates that the market is treating them as a group.
There is no sign of decoupling. Ether’s performance is tied to the broader crypto market. The recent ETF inflows are not enough to change this.
Can Ether Rally to $3,000?
The question remains: Can Ether rally to $3,000? The answer depends on several factors.
First, the ETF inflows need to continue. A sustained streak would build confidence. Second, DApps revenue needs to recover. Higher activity would increase demand for Ether.
Third, the macroeconomic environment needs to improve. Lower risk aversion would benefit all cryptocurrencies. Fourth, Bitcoin’s price needs to stay strong. Ether often follows Bitcoin’s lead.
Without these factors, a rally to $3,000 seems unlikely. The current price of $2,400 is a long way from $3,000. A 25% increase would be needed.
What the Data Says
Data from TradingView shows that Ether’s price is correlated with Bitcoin. If Bitcoin continues to rally, Ether could follow. But the correlation is not perfect.
Industry watchers note that Ether’s underperformance may be a buying opportunity. But they also caution that the DApps sector has yet to show improvement. The fundamentals are mixed.
Conclusion
Spot ETH ETF inflows have hit a 10-day streak, totaling $633 million. This is a positive sign for Ether’s price. But the rally to $3,000 is not guaranteed.
Ethereum’s DApps revenue has declined. The derivatives market shows caution. Macroeconomic uncertainty is weighing on risk assets. These factors limit the upside.
However, Ethereum remains the leader in TVL and layer-2 solutions. The network is well-positioned for future demand. If conditions improve, a rally to $3,000 is possible. But it is not imminent.
FAQs
Q1: What is the significance of the 10-day spot ETH ETF inflow streak?
A: The 10-day streak, totaling $633 million, indicates growing investor confidence in Ether after a sharp price drop. It is the longest inflow streak since the ETFs launched in July 2025.
Q2: Why has Ethereum DApps revenue declined?
A: Weekly DApps revenue fell to $13 million in April, nearly 50% lower than six months prior. The decline is part of a broader market downturn affecting Solana, BNB Chain, and Hyperliquid.
Q3: What is the current Ether price and how does it compare to Bitcoin?
A: Ether is trading around $2,400, down 22% year-to-date. Bitcoin is at $79,000, down 14% year-to-date. Ether has underperformed Bitcoin in 2026.
Q4: What does the ETH futures basis rate indicate?
A: The annualized ETH monthly futures premium dropped to 1%, well below the 4% neutral threshold. This suggests professional traders are cautious and not willing to pay a premium for leveraged long positions.
Q5: Is a rally to $3,000 likely for Ether?
A: A rally to $3,000 is possible but not guaranteed. It depends on continued ETF inflows, recovery in DApps revenue, improved macroeconomic conditions, and Bitcoin’s price strength.
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