Binance Releases Important Funding Update, SHIB Team Issues Critical Alert, ETH Price up as Ethereum ETF Eyes Potential Launch on Monday: Crypto News Digest by U.Today

Here are the top three news stories by U.Today from the past day.

Binance releases important funding update

In a recent announcement, Binance notified its users about an important change to its Futures platform, particularly USD-M Perpetual Contracts. Starting Oct. 12, 2023, at 8:00 a.m. (UTC), Binance will increase the frequency of funding rate settlements for selected USD-M perpetual contracts. The settlements will now be happening every four hours (previously, they occurred every eight hours). This change will affect 15 contracts, including USD-M IMX, LPT, API3 and HIFI perpetual contracts. Additionally, effective from October 9, 2023, at 8:30 a.m.m (UTC), the capped funding rates for selected USD-M perpetual contracts will also be updated to ±3% (applicable to contracts with a maximum leverage of 25x or below). If a contract's maximum leverage is reduced to 25x or lower, this new rate will apply automatically.

Shiba Inu team issues critical alert as BONE renounced

As recently shared by SHIB developer Kaal Dhairya, Shibarium gas token BONE has gone through a "renouncing" process. On Sept. 16, he explained the complex process of minting and renouncing BONE in a blog post, with one of the steps being the creation of a dummy token called "Calcium." Dhairya stressed that this token was created to only mint and renounce BONE and that it will have no value or need in the future, urging the SHIB community not to trade it. "If someone is selling this, please consider this a scam," he stated. Unfortunately, malefactors took advantage of the announcement and created a scam token. Thus, Shibarium Discord admin DaVinci issued a friendly warning that "CAL" token is not legit, advising SHIB enthusiasts to stay cautious and "do their homework before jumping into any crypto project."

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ETH price skyrockets as Ethereum ETF eyes Monday launch prospect

Yesterday, the price of Ethereum reached its highest value over the last eight days, climbing to $1,635.8 per token. Also, since the beginning of the week, ETH surged by 4.6%, demonstrating notable gains. At the moment of writing, the asset is trading at $1,672.70, per CoinMarketCap, up almost 2% over the past 24 hours. However, Ethereum has recently been in the spotlight not only because of its price movement; the community is abuzz with anticipation of the potential launch of Ethereum Futures ETFs as early as next week. This was hinted at by Bloomberg's senior ETF analyst Eric Balchunas. According to his X post, the SEC wants to accelerate the launch of Ethereum Futures ETFs. He suggested that the regulator has asked ETF filers to update their documentation by Friday evening so that they can become effective on Monday and start trading on Tuesday.