Ethereum Price Drops Below $2,000 but Analysts See Support Ahead

Ethereum's price dipped below $2,000 on August 1 but analysts believe strong institutional participation and staking-led supply constraints will support prices.

The world's second-largest cryptocurrency traded at $1,864.79, down around 1.87% over the previous 24 hours.

Institutional ETF demand continues to attract long-term investors, while staking has created a supply squeeze with nearly one-third of Ethereum's circulating supply locked in staking protocols.