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keel
Ledger
65,275,154
Methodology
1.0.8-draft
Age
6s

BEER against USDC — what depth stands behind this price?

All assets

BEER / USDC

GBL2…SHNN

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0 USDCLimited by manipulation cost
Depth within 5%
buy5.69 USDC (shortened; full value 5.6981170062119448822887573662 USDC)sell5.80 USDC (shortened; full value 5.80743961979563678776123748076235083746337369788 USDC)
Cost to move +50%
0 USDCReachable at no cost: nothing stands in the way
Checks
3 triggered5 not evaluated

History

Window
Resolution
Source

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.

Lower at the end of the window than at its start

Lowest
2.37 USDC (shortened; full value 2.3767991433050727125437924337 USDC)
Highest
12.79 USDC (shortened; full value 12.7942514207517163528971713124 USDC)
2026-10-03T23:53:27Z — 2026-10-24T19:08:28ZOne scale across every line on this chart
2% from mid
2.38 USDC (shortened; full value 2.3852108875846230607603190489 USDC)
5% from mid
5.91 USDC (shortened; full value 5.9196022364321127054635592424 USDC)
10% from mid
11.69 USDC (shortened; full value 11.6998611307394713665294599091 USDC)
501 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.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout

Not evaluated5

  • Price sources disagree
  • Extreme spread
  • 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.

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
+50%0.000003 USDC (shortened; full value 0.00000361885270035 USDC)51.85 USDC (shortened; full value 51.8574044003913828442247846304 USDC)free to reach
+100%0.000004 USDC (shortened; full value 0.0000048251369338 USDC)95.57 USDC (shortened; full value 95.5752185983462142688174113874 USDC)free to reach
+1,000%0.000026 USDC (shortened; full value 0.0000265382531359 USDC)534.53 USDC (shortened; full value 534.5356619422632578316723501186 USDC)free to reach
+10,000%0.000243 USDC (shortened; full value 0.0002436694151569 USDC)2,088.15 USDC (shortened; full value 2088.1591510936367386460878890604 USDC)free to reach

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.

Highest price the book can reach
not computed

Absorbing every ask. Not computed when an active pool exists, because a constant product curve has no highest price

Cost to reach it
not computed

Every ask below that price. Catches an attack that lands between two rungs of the ladder