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Keel
Ledger
64,492,830
Methodology
1.0.8-draft
Age
7s

AQUA against USDC — what depth stands behind this price?

How has this moved over time?

WindowLast 24 hoursLast 7 daysLast 30 days
ResolutionHourlyDaily
SourceHorizonHubbleOffers impliedTrades implied

Price

Mid price
0.00034446 USDC (shortened; full value 0.00034446027129705 USDC)

Higher than at the start of the window

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

2% from mid
501.89 USDC (shortened; full value 501.8940204819158839249375958274 USDC)
5% from mid
8,942.44 USDC (shortened; full value 8942.442381914407449085269995991 USDC)
10% from mid
18,040.16 USDC (shortened; full value 18040.1638573390313503049328593026 USDC)

Lower than at the start of the window

Cost to move the price by half

One manipulation rung, at the delta the engine treats as critical. A reading it could not produce breaks the line rather than sitting at zero.

Manipulation cost, 0.5%
18,609.76 USDC (shortened; full value 18609.76931200071353650854235 USDC)

Lower than at the start of the window

Collateral ceiling

Max safe collateral
4,652.44 USDC (shortened; full value 4652.4423280001783841271355875 USDC)

Lower than at the start of the window

2026-09-17T16:45:28Z — 2026-09-18T16:45:28Z

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

THIN_DEPTH_5PCTthroughout

25 readings from horizon, with no gaps reported. One source per chart.

How much can this asset safely back?

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

Risk band

Medium

partial confidence

A band marked partial is a floor. At least one high-severity check could not be evaluated, so the real band can only be worse than the one shown, never better.

4,652.44 USDC (shortened; full value 4652.4423280001783841271355875 USDC)

Limited by manipulation cost

Liquidation term
66,240.57 USDC (shortened; full value 66240.5754039266969064856487875317606289801610032777 USDC)

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

Manipulation termbinds
4,652.44 USDC (shortened; full value 4652.4423280001783841271355875 USDC)

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

What volume can it absorb before the price moves?

Three rungs at 2, 5 and 10 per cent, in each direction. The buy side matters for oracle manipulation and the sell side for liquidation.
  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
501.89 USDC (shortened; full value 501.8940204819158839249375958274 USDC)
Sell side
4,602.10 USDC (shortened; full value 4602.10733290198661334739319543891323885811491707163 USDC)

5% from mid

Buy side
8,942.44 USDC (shortened; full value 8942.442381914407449085269995991 USDC)
Sell side
131,062.25 USDC (shortened; full value 131062.255031944505019563212385964521201448890370872458 USDC)

10% from mid

Buy side
18,040.16 USDC (shortened; full value 18040.1638573390313503049328593026 USDC)
Sell side
132,481.15 USDC (shortened; full value 132481.1508078533938129712975750635212579603220065554 USDC)

Bars share one scale. The venue split decomposes the buy side; the sell side is drawn as an outline because its composition is not reported.

What would it cost to move the price?

Read cost together with reachability: a figure on an unreachable rung says how far the book goes, not what the move costs.
Cost to move the price by each delta, through all venues and through the order book alone, with whether the target is reachable at all.
MoveTarget priceCost, all venuesCost, order book only
0.5%0.000516 USDC (shortened; full value 0.000516690406945575 USDC)22,845.54 USDC (shortened; full value 22845.5429271620618311232599513275 USDC)18,609.76 USDC (shortened; full value 18609.76931200071353650854235 USDC)
1%0.000688 USDC (shortened; full value 0.0006889205425941 USDC)27,228.85 USDC (shortened; full value 27228.8535449816794089273518562838 USDC)19,421.89 USDC (shortened; full value 19421.89668260078199650854235 USDC)
10%0.003789 USDC (shortened; full value 0.00378906298426755 USDC)240,873.58 USDC (shortened; full value 240873.585920216768547951278288305 USDC)197,209.20 USDC (shortened; full value 197209.2054830040567099429034 USDC)
100%0.034790 USDC (shortened; full value 0.03479048740100205 USDC)919,549.34 USDC (shortened; full value 919549.3436178483221108334344836576 USDC)748,973.90 USDC (shortened; full value 748973.9023526282850199429034 USDC)

Reachability on the all-venues ladder is unconditionally true whenever an active pool exists, because a constant product curve has no upper price bound. The order-book-only column is the one that answers whether a target is attainable, and it is the one Keel itself uses.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.
Largest holder
not computed
Top ten holders
not computed
Concentration index
not computed

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

Of 30 day volume. A high share indicates suspected wash trading

Volume to supply, 30 day
not computed
Last genuine trade
not computed

No genuine trade was found in the window