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keel
Ledger
65,277,494
Methodology
1.0.8-draft
Age
2s

AQUA against USDC — what depth stands behind this price?

All assets

AQUA / USDC

GBNZ…AQUA

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
5,217.37 USDC (shortened; full value 5217.3794598748270189374899925 USDC)Limited by manipulation cost
Depth within 5%
buy8,984.97 USDC (shortened; full value 8984.9774945317682769177222012128 USDC)sell7,434.13 USDC (shortened; full value 7434.130935395723593905679623956529106865032868899527 USDC)
Cost to move +50%
20,869.51 USDC (shortened; full value 20869.51783949930807574995997 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Lower at the end of the window than at its start

Lowest
20,628.40 USDC (shortened; full value 20628.40932810093742688840084 USDC)
Highest
23,933.16 USDC (shortened; full value 23933.16912450055793541502878 USDC)
2026-11-02T02:53:24Z — 2026-11-03T02:23:29Z
Cost to move +50%
20,879.38 USDC (shortened; full value 20879.38527950061667189829962 USDC)
25 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOW6 of 25

Not evaluated3

  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

5,217.37 USDC (shortened; full value 5217.3794598748270189374899925 USDC)

Limited by manipulation cost

Liquidation term
8,239.43 USDC (shortened; full value 8239.4333434042877595469905323362408470865373101399875 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation termbinds
5,217.37 USDC (shortened; full value 5217.3794598748270189374899925 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.