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Crypto Pulse Daily: Iran Declares Strait of Hormuz Will Remain Closed, Oil Prices Spike
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CoinGape Newsletter
March 12, 2026
Iran’s new Supreme Leader, Mojtaba Khamenei, has released his first statement since succeeding his father, declaring that the Strait of Hormuz will remain closed. This led to a spike in oil prices, with Brent Crude oil rising to an intraday high of $100 on the back of his statement.
BlackRock launches the iShares Staked Ethereum Trust ETF (ETHB) on Nasdaq today, expanding its digital asset lineup. The product offers exposure to spot Ether while staking part of its holdings to generate potential rewards. The move comes as institutions seek yield opportunities from Ethereum’s proof-of-stake system and broader blockchain activity.
 Cardano (ADA) price is showing renewed strength as investors position ahead of the major Leios and Midnight upgrades. The token rose 1.58% on Thursday hovering above $0.26. Bitcoin continued to hold above $70,000 during the session. Ethereum remained near the $2,000 level. Other top coins like Solana, XRP, and Dogecoin recorded slight recoveries. The latest ADA price soared to $0.2621 with a slight surge over the past 24-hours. Recently, the ADA price has recovered its footing at the floor of $0.25, which indicates a fresh interest in buying. |  Dogecoin price hovers near $0.093 after recording a modest 1% gain over the past 24-hours. The uptick follows renewed optimism tied to Elon Musk’s plans for expanded payment services on X Money. Potential crypto integration is expected to enhance the adoption and utility of Dogecoin in the eyes of the investors. If buying pressure strengthens further, analysts believe the meme coin could approach the $0.20 level. The cryptocurrency market is recovering on the daily chart, with BTC hovering above $70k and ETH hovering above $2k |