According to CoinMeta, despite the ongoing geopolitical standoff between the United States and Iran, shipping volumes through the Strait of Hormuz saw a slight rebound on Wednesday. According to Kpler data, a total of 10 bulk cargo vessels passed through the Strait of Hormuz on Wednesday, which is a slight increase from 8 on Tuesday, but still below the 10-day moving average of around 15 vessels. Meanwhile, shipping volumes through the Strait of Mandeb slowed for a second consecutive day, with 19 bulk cargo vessels passing through on Wednesday, compared to 24 the previous day.