Binance Issues Major Funding Update, SHIB Team Issues Critical Alert, ETH Price Rises as Ethereum ETF Eyes Possible Monday Launch: U.Today’s Crypto News Digest

Here are U.Today’s top three stories from the past day.

Binance releases major funding update

In a recent announcement, Binance notified to its users about a major change in its Futures platform, particularly in the USD-M Perpetual Contracts. Starting October 12, 2023 at 8:00 am (UTC), Binance will increase the frequency of funding rate settlements for select USD-M perpetual contracts. Settlements will now occur 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, starting October 9, 2023 at 8:30 am (UTC), capped funding rates for select USD-M perpetual contracts will also be updated to ±3% (applicable to contracts with a maximum leverage of 25x or less). . If a contract’s maximum leverage is reduced to 25x or less, this new rate will automatically apply.

Shiba Inu Team Issues Critical Alert As BONE Quits

As SHIB developer Kaal Dhairya recently shared, the Shibarium BONE gas token has gone through a “giving up” process. On September 16, he explained the complex process of minting and renouncing BONE in a blog post, one of the steps being the creation of a fictitious token called “Calcio.” Dhairya emphasized that this token was created only to mint and renounce BONE and will have no value or need in the future, and urged the SHIB community not to trade it. “If someone is selling this, consider it a scam,” he said. Unfortunately, bad actors took advantage of the announcement and created a scam token. Thus, Shibarium Discord admin DaVinci issued a friendly warning that “CAL” token is not legitimate, advising SHIB enthusiasts to be cautious and “do your homework before jumping into any crypto project.”

ETH Price Soars as Ethereum ETF Eyes Monday Launch Outlook

Yesterday, the price of Ethereum reached its highest value in the last eight days, rising to $1,635.8 per token. Furthermore, since the beginning of the week, ETH is up 4.6%, demonstrating notable gains. At the time of writing, the asset is trading at $1,672.70, according to CoinMarketCap, up almost 2% in the last 24 hours. However, Ethereum has recently been in the spotlight not only for its price movement; The community is excited in anticipation of the potential launch of Ethereum Futures ETFs starting next week. This was hinted at by Eric Balchunas, senior ETF analyst at Bloomberg. According to your x publication, the SEC wants to accelerate the launch of Ethereum Futures ETFs. He suggested that the regulator has asked ETF applicants to update their documentation by Friday evening so that they can take effect on Monday and start trading on Tuesday.

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