Traffic Through the Strait of Hormuz Hits Lowest Level Since May

Traffic through the Strait of Hormuz dropped to just one vessel on the 24th, marking the lowest level since May 7. The instability in energy supply from the Middle East is impacting the crypto market through oil, logistics, and price pathways. According to data from Al Jazeera English, only one cargo ship passed through the Strait of Hormuz on the 24th. However, there are instances of vessels turning off their Automatic Identification System (AIS), which may lead to discrepancies in the actual traffic volume. The International Energy Agency (IEA) stated in its February 2026 report that an average of 20 million barrels of crude oil and petroleum products are expected to pass through the strait daily in 2025. This volume accounts for approximately 25% of global maritime oil trade, with Japan and South Korea particularly reliant on oil flows passing through Hormuz. Liquefied natural gas (LNG) is also tied to the same route, with about 93% and 96% of LNG exports from Qatar and the United Arab Emirates (UAE) respectively passing through the Strait of Hormuz. The decline in traffic has become evident since last month, with shipping data firm Kpler reporting that the average daily traffic dropped from about 45 vessels between June 7 and July 7 to around 13 following the resumption of hostilities. From July 15 to 22, the Iranian route accounted for about 90% of traffic. According to Polymarket's predictions, the probability of normalizing traffic through Hormuz by September 30 is low at 5.5%. Tensions in Hormuz could indirectly affect risk assets such as Bitcoin (BTC) and Ethereum (ETH).

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