Crypto stocks jumped in morning trading. Keel Infrastructure rose 17%; SharpLink Gaming rose 11%; CleanSpark rose 10%; Robinhood rose 9%; Riot Platforms and American Bitcoin rose 8%; Strategy and Circle rose 7%; IREN, Coinbase, BitMine, and Cipher Mining rose 6%; MARA Holdings and Hut 8 rose 5%.

Bitcoin rose to its highest level in four weeks as risk assets rallied on hopes that the US can strike a deal with Iran to end their conflict.

The largest cryptocurrency climbed as much as 2.4% to $74,945, its highest since March 17, before paring gains to trade around $74,400. Smaller tokens also advanced, with Ether up 5.5% to over $2,370.

The moves followed President Donald Trump’s claim that Iran had reached out to his administration for potential peace talks, even as the US began a naval blockade of the Strait of Hormuz.