According to CoinMeta, and as reported by Reuters, traffic through the Strait of Hormuz and the Strait of Mandeb decreased significantly on Wednesday compared to the previous day. Data from the maritime tracking agency Kpler shows that only two ships passed through the Strait of Hormuz on Wednesday, fewer than the eight ships from the previous day. Before the war with Iran began in February, approximately 130 to 140 ships passed through this waterway daily. Regarding the Strait of Mandeb, data from Kpler indicates that only one freight ship passed through the strait on Wednesday; this ship was a bulk carrier flying the Bahamas flag, which is far fewer than the 20 ships from the previous day. Previously, on July 20th, the Houthi rebels, who have close ties with Iran, imposed a naval blockade on Saudi Arabia in the Red Sea in response to "Saudi Arabia's siege of Yemen." The Saudi side has denied this claim. In the week before the blockade was announced, an average of about 41 ships passed through this critical shipping bottleneck daily.