What depth stands behind this price?

BASH against USDC · GBQ42A…N7D65N

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.

Low
Medium — this asset
High
Critical

Mediumpartial 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.

64.61 USDC (shortened; full value 64.613258356025658724521044225915061160094045974788 USDC)

Limited by liquidation depth

Liquidation termbinds: 64.61 USDC (shortened; full value 64.613258356025658724521044225915061160094045974788 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation term: not applicable
Not applied: the critical target is not reachable through the order book.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from

Source: GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What this computation could not do

maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning
manipulation to delta 0.5 is unreachable through the order book; the manipulation term was not applied

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.

Mid price: 0.00000949 USDC (shortened; full value 0.0000094926981474 USDC)
Source: AMM pool spot
Spread: not computed
Undefined unless the price came from a two-sided book
Pool spot price: 0.00000949 USDC (shortened; full value 0.0000094926981474 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: not computed
Null means there is no pool to diverge from, not that the sources agree

Where this number comes from

Source: GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

25.20 USDC

Sell side

25.30 USDC

5% from mid

Buy side

62.56 USDC

Sell side

63.76 USDC

10% from mid

Buy side

123.65 USDC

Sell side

129.22 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.

Where this number comes from

Source: GET /asset/{assetId}/depth → depth[]
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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.
Move	Target price	Cost, all venues	Cost, order book only
0.5%	0.000014 USDC (shortened; full value 0.0000142390472211 USDC)	569.36 USDC (shortened; full value 569.3671077738237903183251390286 USDC)	unreachablebook ends at 0 USDC
1%	0.000018 USDC (shortened; full value 0.0000189853962948 USDC)	1,049.36 USDC (shortened; full value 1049.3657832936322812565568563128 USDC)	unreachablebook ends at 0 USDC
10%	0.000104 USDC (shortened; full value 0.0001044196796214 USDC)	5,868.92 USDC (shortened; full value 5868.92127288453043030010469079 USDC)	unreachablebook ends at 0 USDC
100%	0.000958 USDC (shortened; full value 0.0009587625128874 USDC)	22,926.89 USDC (shortened; full value 22926.8925079608086339163309405213 USDC)	unreachablebook ends at 0 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.

How far the book actually goes

Furthest price the book reaches: not computed
Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning
Cost to walk it that far: not computed
Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from

Source: GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(2)

THIN_DEPTH_5PCT
HOLDER_CONCENTRATION_HIGH

Could not be evaluated(5)

PRICE_SOURCE_CONFLICT
SPREAD_EXTREME
NO_GENUINE_TRADE_30D
NO_GENUINE_TRADE_7D
WASH_TRADE_SUSPECTED

Where this number comes from

Source: GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.

Largest holder: 30.1183 % (shortened; full value 30.11834646311862388983161962 %)
Top ten holders: 97.6434 % (shortened; full value 97.64340900702199573122929476 %)
Concentration index: 1,552.37 (shortened; full value 1552.3723827961565965822596740122250735918512894177049188)
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

Where this number comes from

Source: GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

WindowLast 24 hours Last 7 days Last 30 days

ResolutionHourly Daily

SourceHorizon Hubble Offers implied Trades implied

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

Band at each reading

Medium: 164 of 164

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_5PCT

throughout

HOLDER_CONCENTRATION_HIGH

146 of 164

Price

Lowest: 0.00000914 USDC (shortened; full value 0.000009145659098 USDC)
Highest: 0.00000978 USDC (shortened; full value 0.0000097850398698 USDC)

2026-09-11T17:47:50Z — 2026-09-18T12:15:28Z

Mid price: 0.00000949 USDC (shortened; full value 0.0000094926981474 USDC)

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, and the lines darken as the rung widens.

Lowest: 24.74 USDC (shortened; full value 24.7418366276922112944766192495 USDC)
Highest: 125.51 USDC (shortened; full value 125.5189928034957276142541818747 USDC)

2026-09-11T17:47:50Z — 2026-09-18T12:15:28ZOne scale across every line on this chart

2% from mid: 25.20 USDC (shortened; full value 25.208512485125926206925258652 USDC)
5% from mid: 62.56 USDC (shortened; full value 62.5623367983155123085752882212 USDC)
10% from mid: 123.65 USDC (shortened; full value 123.6519994620482754674631850607 USDC)

Cost to move the price by half

The series carries one manipulation rung, at the half per cent delta the engine treats as critical. A reading the engine could not produce breaks the line rather than sitting at zero.

No point in this range carried a value.

Collateral ceiling

Lowest: 63.41 USDC (shortened; full value 63.417097029066116350262396144144072017239634366332 USDC)
Highest: 65.58 USDC (shortened; full value 65.58883920910316054867552510485257456331772471364 USDC)

2026-09-11T17:47:50Z — 2026-09-18T12:15:28Z

Max safe collateral: 64.61 USDC (shortened; full value 64.613258356025658724521044225915061160094045974788 USDC)

Where this number comes from

Source: GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What was this computed from?

Ledger: 64,489,590
Closed at 2026-09-18T12:15:28Z
Computed at: 2026-09-18T12:15:36.526898Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against