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Web3 game Pixels has seen its valuation soar to nearly $3 billion shortly after its token, PIXEL, was listed on Binance. Meanwhile, the European Central Bank is still cold on Bitcoin, despite recent exchange-traded fund (ETF) approvals in the U.S., and the firm behind Tether was silent on whether it would consider junking Tron after competitor Circle ceased minting on the blockchain on Tuesday.
Pixels approaches $3B valuation following Ronin migration
Web3 game Pixels has seen its valuation eclipse $2.7 billion shortly after its token was listed on Binance — and months after migrating from Polygon to Sky Mavis’ Ronin blockchain.
The PIXEL token saw its value spike by 1,246% from its listing price on Feb. 19, bringing its total market capitalization to $2.65 billion. Per DappRadar data, the project currently has 538,850 wallets interacting with it, making it one of the most popular Web3 blockchain games.
Our token, $PIXEL, is officially live on @Binance, the world’s largest crypto exchange
We’ve been working towards this moment for over 2 years, and we couldn’t be more excited to share this massive milestone with you all.
This is just the beginning and the best is yet to… pic.twitter.com/G3MCCf0yMU
Meanwhile, the Ronin blockchain has made a strong comeback following a devastating $600 million hack in 2022. The blockchain’s total value locked has recovered to $214 million, with 99% of its volumes coming from Katana, a native decentralized exchange.
Sky Mavis co-founder Aleksander Larsen told Cointelegraph that Ronin will enable further integration of Web3 games with the Mavis Hub, thereby enabling game curation. Ronin onboarded 16 blockchain games last year.
ECB not convinced by ETF approval in the U.S., still dislikes Bitcoin
Despite generating excitement on the other side of the pond, the European Central Bank still has a downer on Bitcoin and the latest slew of U.S. ETF approvals
In a blog post, Ulrich Bindseil, the Director General of the ECB’s Market Infrastructure and Payments division, and Jürgen Schaaf, an adviser to the same division, disagree with the claim that the approval of spot Bitcoin 
BTCUSD ETFs in the U.S. confirms that BTC investments are safe and the preceding rally was “proof of an unstoppable triumph.”
The ECB executives agree that the expectation of the ETF approvals drove the price of Bitcoin, but they believe it could turn out to be “a flash in the pan:”
The text concludes that the ECB’s job to control Bitcoin has not been done yet. Authorities should stay vigilant and protect society from money laundering, cybercrime, financial losses for the less educated and extensive environmental damage, they state.
Tether won’t confirm or deny if it’s dropping USDT on Tron
Stablecoin issuer Tether has yet to provide a definitive answer on whether or not it would cease support for the Tron network after its rival Circle ceased minting its stablecoin on the blockchain on Tuesday.
“Tether tokens are issued on several blockchains, which are simply transport layers for such tokens,” Tether said in a statement to Cointelegraph when asked for comment about Circle and whether Tether was considering a similar move.
This is huge — Circle just announced it’s ending support for USDC on Tron.
The troubled blockchain has become the largest home for Tether, surpassing Ethereum, and has been plagued with accusations of money laundering pic.twitter.com/SxJJFvx8FP
“Tether retains the ability to freeze transactions on each directly supported transport layer to accomplish its compliance duties. Nevertheless Tether actively monitors the safety of each one of the supported transport layers to ensure the highest standards to our community,” the firm said.
The Tron network is home to over 51.8 billion USDT — over half of the nearly 101 billion USDT tokens issued across multiple blockchains, according to Tether’s transparency report dated Feb. 21.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Additional reporting by Geraint Price, Sam Bourgi and Felix Ng.
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