ETHA is trading at $17.54 (-3.3%) in pre-market, reversing yesterday's 4.5% gain to $18.13 as escalating geopolitical tensions in the Middle East trigger a broad risk-off shift.
- Iran's seizure of two container ships in the Strait of Hormuz on April 22 has pushed oil prices above $102/barrel, halting the momentum from a previous ceasefire extension rally.
- The decline mirrors a downturn in the crypto market, with ETH falling 2.21% to $2,339 and BTC down 0.24% to $77,877.
- Broader equity markets are also under pressure, with the S&P 500 and Nasdaq dropping 0.6% and 0.61% respectively in early trading.