3AC Creditors May Receive 46% Recovery Rate, PancakeSwap Proposes 40% Supply Reduction
Dec 21, 2023
Market Update U.S. equity indices are rising today after yesterday’s late afternoon sell-off. The SPY and QQQ are both up over 0.70% following the Q3 GDP report showing 4.9% growth vs. 5.2% expected, moving the probability of a rate cut in March to 72.7%. Crypto markets are mixed, with $BTC (-0.22%) showing modest declines while $ETH is up approximately 1% on the day. $SOL (+7.74%) is outperforming today as lately DeFi activity has been concentrated on alt-layer-1 chains. Solana dominance ($SOL.D) has risen to 2.38%, its highest level since January 2022. Jupiter, a Solana-based aggregator,