Iran’s Shipping Strikes Top a Dozen Amid Bid to 'Restore' Leverage —Crypto Punters Wager on Hormuz Reopening

Iran has conducted over a dozen attacks on shipping in the Strait of Hormuz since late September, aiming to regain leverage over this crucial maritime route, which has led to a significant decline in oil tanker traffic. The U.S. military is enforcing a blockade on Iranian ports, while sanctions on Iranian oil exports have exacerbated the country's economic crisis, causing its currency to lose half its value in the past year. Crypto markets indicate only a 7% chance that shipping traffic will normalize by the end of November, reflecting growing concerns about the ongoing tensions.