Canaan Inc. (CAN), a leading provider of supercomputing solutions, saw its stock soar 10.09% in pre-market trading on Monday, outperforming even the robust gains seen across the crypto sector. This surge comes as cryptocurrency-related stocks experience a broad recovery following a tumultuous weekend selloff.

The rebound in crypto stocks is largely attributed to easing trade tensions between the US and China. President Donald Trump and Vice President JD Vance made statements on Sunday signaling openness to a deal with China, which helped alleviate concerns that had triggered a massive $19 billion liquidation in crypto bets after the announcement of severe new China tariffs on Friday.

As the crypto market regains ground, with the total market value rising more than 6% to exceed $4 trillion, Canaan's significant pre-market jump reflects growing investor confidence in crypto-related businesses. This positive momentum in the crypto space, coupled with Canaan's strong position in the mining hardware industry, appears to be driving the stock's impressive performance as the new trading week begins.