Total crypto capitalization is up 3.5%, with Layer 1s and memecoins leading the charge.
Crypto markets are off to a strong start this week, with major altcoins surging amid more than $400 million in short liquidations. Stocks rallied while oil dropped 5% after U.S. Treasury Secretary Scott Bessent told CNBC that Iranian oil tankers are being allowed to transit the Strait of Hormuz.
Bitcoin (BTC) is trading at around $74,000, up 3.5% over the past 24 hours. Layer 1 tokens are outperforming, with ETH surging 10% to $2,320, and SOL climbing 8% to $95.
Meanwhile, Polkadot (DOT) rallied 15%, Ripple (XRP) and Cardano (ADA) gained around 9%, and BNB added 2%.
The overall crypto market capitalization climbed 3.5% to $2.61 trillion,…
