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Keel
Ledger
64,492,831
Methodology
1.0.8-draft
Age
3s

BASH against USDC — what depth stands behind this price?

How has this moved over time?

Price

Mid price
0.00000967 USDC (shortened; full value 0.0000096721713462 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
25.44 USDC (shortened; full value 25.4461385806585626837946774818 USDC)
5% from mid
63.15 USDC (shortened; full value 63.1520758330782069477968980569 USDC)
10% from mid
124.81 USDC (shortened; full value 124.8175954826110658730814241451 USDC)

Higher 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.

No point in this range carried a value.

Not enough readings in this window to show a direction.

Collateral ceiling

Max safe collateral
65.22 USDC (shortened; full value 65.22233024441428361881012413799877672633626706133 USDC)

Higher than at the start of the window

2026-09-11T23:47:54Z2026-09-18T16:30:33Z

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
HOLDER_CONCENTRATION_HIGH7 of 8

8 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.

65.22 USDC (shortened; full value 65.22233024441428361881012413799877672633626706133 USDC)

Limited by liquidation depth

Liquidation termbinds
65.22 USDC (shortened; full value 65.22233024441428361881012413799877672633626706133 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.

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
25.44 USDC (shortened; full value 25.4461385806585626837946774818 USDC)
Sell side
25.54 USDC (shortened; full value 25.5479178767270208713834372251815562049136793525 USDC)

5% from mid

Buy side
63.15 USDC (shortened; full value 63.1520758330782069477968980569 USDC)
Sell side
64.36 USDC (shortened; full value 64.363695386657240689874083315254224433268147515115 USDC)

10% from mid

Buy side
124.81 USDC (shortened; full value 124.8175954826110658730814241451 USDC)
Sell side
130.44 USDC (shortened; full value 130.44466048882856723762024827599755345267253412266 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%0.000014 USDC (shortened; full value 0.0000145082570193 USDC)574.73 USDC (shortened; full value 574.7342028304969735840504051236 USDC)unreachablebook ends at 0 USDC
1%0.000019 USDC (shortened; full value 0.0000193443426924 USDC)1,059.25 USDC (shortened; full value 1059.2575487842277069474889243958 USDC)unreachablebook ends at 0 USDC
10%0.000106 USDC (shortened; full value 0.0001063938848082 USDC)5,924.24 USDC (shortened; full value 5924.2442058773779570892806974931 USDC)unreachablebook ends at 0 USDC
100%0.000976 USDC (shortened; full value 0.0009768893059662 USDC)23,143.01 USDC (shortened; full value 23143.0110890384404990542379950697 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.

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