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Keel
Ledger
64,491,931
Methodology
1.0.8-draft
Age
4s

BEER against USDC — what depth stands behind this price?

How has this moved over time?

Price

Mid price
0.00000281 USDC (shortened; full value 0.0000028196500918 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
2.47 USDC (shortened; full value 2.4757496774774245972573109425 USDC)
5% from mid
6.14 USDC (shortened; full value 6.1443008682902026334659176248 USDC)
10% from mid
12.14 USDC (shortened; full value 12.1439691440831739270662823361 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.

Manipulation cost, 0.5%
0 USDC

Unchanged across the window

Collateral ceiling

Max safe collateral
0 USDC

Unchanged across the window

2026-09-17T23:45:33Z2026-09-18T15:15:33Z

Which checks were firing

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

MANIPULATION_CHEAPthroughout
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

Critical

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.

0 USDC

Limited by manipulation cost

Liquidation term
6.34 USDC (shortened; full value 6.345723637207185314458029247048767681660163828956 USDC)

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

Manipulation termbinds
0 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
2.47 USDC (shortened; full value 2.4757496774774245972573109425 USDC)
Sell side
2.48 USDC (shortened; full value 2.485652164592184437520467882010731267991265903 USDC)

5% from mid

Buy side
6.14 USDC (shortened; full value 6.1443008682902026334659176248 USDC)
Sell side
6.26 USDC (shortened; full value 6.262183851183279396106438428242651407535424410218 USDC)

10% from mid

Buy side
12.14 USDC (shortened; full value 12.1439691440831739270662823361 USDC)
Sell side
12.69 USDC (shortened; full value 12.691447274414370628916058494097535363320327657912 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%0.000004 USDC (shortened; full value 0.0000042294751377 USDC)55.91 USDC (shortened; full value 55.9180330163879066448419143493 USDC)free to reach
1%0.000005 USDC (shortened; full value 0.0000056393001836 USDC)103.05 USDC (shortened; full value 103.0591154903711213343132019903 USDC)free to reach
10%0.000031 USDC (shortened; full value 0.0000310161510098 USDC)576.39 USDC (shortened; full value 576.3918024539356159780198839235 USDC)free to reach
100%0.000284 USDC (shortened; full value 0.0002847846592718 USDC)2,251.66 USDC (shortened; full value 2251.6698185041682790336091803078 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.

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