Ethereum Surges Past ₹2.4 Lakh on Treasury Buybacks, SEC Framework

Ethereum's price surged past the ₹2.4 Lakh mark in just 48 hours, fueled by three separate developments that aligned to flip the market's mood.

The Treasury Department announced an expansion of its long-dated debt buyback operations, raising the per-operation cap from around $2 billion to $4 billion, which pushed long-end yields lower and reopened risk appetite for crypto.

Additionally, the SEC published a proposed framework for crypto projects to raise capital under defined exemptions and exit securities classification once core managerial commitments are met.

The market was badly positioned for this, with over $3 billion in leveraged positions getting liquidated within 24 hours, including short positions that made up about 92% of the damage, which amplified the move.