According to CoinMeta, the price of Ethereum (Ethereum) fell below $2,400 on September 2 due to the intensification of conflicts between the United States and Iran, which drove up oil prices and Treasury yields, thereby weakening demand for risk assets. According to Crypto.News data, the price of Ethereum was near $2,372 at the time of writing, with a daily decline of about 1.9%. The latest drop continued a correction from the peak of nearly $2,510 on August 27-28. Sellers also pushed the token below the psychological barrier of $2,400, a level that had limited several declines in the past two weeks. Global markets are under pressure due to conflicts between the United States and Iran near the Strait of Hormuz, with Brent crude approaching $95 per barrel, increasing concerns about another rise in inflation.