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Keel
Ledger
64,491,930
Methodology
1.0.8-draft
Age
6s

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
0.00034517 USDC (shortened; full value 0.00034517536472085 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
550.57 USDC (shortened; full value 550.572909146296649228557776298 USDC)
5% from mid
9,025.54 USDC (shortened; full value 9025.5438973618022993293154670114 USDC)
10% from mid
18,140.53 USDC (shortened; full value 18140.5355959514984714533171671523 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%
18,630.04 USDC (shortened; full value 18630.04053450001295917232311 USDC)

Lower than at the start of the window

Collateral ceiling

Max safe collateral
4,657.51 USDC (shortened; full value 4657.5101336250032397930807775 USDC)

Lower than at the start of the window

2026-09-17T23:45:28Z — 2026-09-18T15:30:28Z

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

2 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.

4,657.51 USDC (shortened; full value 4657.5101336250032397930807775 USDC)

Limited by manipulation cost

Liquidation term
66,296.10 USDC (shortened; full value 66296.10758838446343114320386862401899159927439124885 USDC)

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

Manipulation termbinds
4,657.51 USDC (shortened; full value 4657.5101336250032397930807775 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
550.57 USDC (shortened; full value 550.572909146296649228557776298 USDC)
Sell side
3,108.05 USDC (shortened; full value 3108.0590898603353709253717715489863712851084580164 USDC)

5% from mid

Buy side
9,025.54 USDC (shortened; full value 9025.5438973618022993293154670114 USDC)
Sell side
130,994.96 USDC (shortened; full value 130994.966019572610357596020950210777434957137988501225 USDC)

10% from mid

Buy side
18,140.53 USDC (shortened; full value 18140.5355959514984714533171671523 USDC)
Sell side
132,592.21 USDC (shortened; full value 132592.2151767689268622864077372480379831985487824977 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%0.000517 USDC (shortened; full value 0.000517763047081275 USDC)22,919.26 USDC (shortened; full value 22919.2669470334136605579294579264 USDC)18,630.04 USDC (shortened; full value 18630.04053450001295917232311 USDC)
1%0.000690 USDC (shortened; full value 0.0006903507294417 USDC)27,306.27 USDC (shortened; full value 27306.2714682602675174084668914202 USDC)19,442.16 USDC (shortened; full value 19442.16790510008141917232311 USDC)
10%0.003796 USDC (shortened; full value 0.00379692901192935 USDC)241,551.56 USDC (shortened; full value 241551.5635053637776640208953075635 USDC)197,792.94 USDC (shortened; full value 197792.94673910335613260668416 USDC)
100%0.034862 USDC (shortened; full value 0.03486271183680585 USDC)920,358.59 USDC (shortened; full value 920358.5934361896213605166938352345 USDC)749,557.64 USDC (shortened; full value 749557.64360872758444260668416 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