What depth stands behind this price?

BTC against USDC · GDPJAL…5O2MZM

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.

1,441.05 USDC (shortened; full value 1441.05746370436175568846139707571305625876090460512 USDC)

Limited by liquidation depth

Liquidation termbinds: 1,441.05 USDC (shortened; full value 1441.05746370436175568846139707571305625876090460512 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation term: 3,386.91 USDC (shortened; full value 3386.9180702461184666760143925 USDC)
Order-book-only manipulation cost at the critical delta, times the safety margin.

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

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: 77,811.78974995 USDC (shortened; full value 77811.78974995031120875 USDC)
Source: order book mid
Spread: 0.4917 % (shortened; full value 0.49175157277611232803248214 %)
Undefined unless the price came from a two-sided book
Pool spot price: 77,854.38813795 USDC (shortened; full value 77854.3881379565543802 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 0.0547 % (shortened; full value 0.05471546180641687868467085 %)
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

982.33 USDC

Sell side

548.47 USDC

5% from mid

Buy side

1,769.95 USDC

Sell side

1,359.28 USDC

10% from mid

Buy side

3,206.83 USDC

Sell side

2,882.11 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%	116,717.684624 USDC (shortened; full value 116717.684624925466813125 USDC)	25,538.42 USDC (shortened; full value 25538.4253265026948882004052282413 USDC)	13,547.67 USDC (shortened; full value 13547.67228098447386670405757 USDC)
1%	155,623.579499 USDC (shortened; full value 155623.5794999006224175 USDC)	84,810.54 USDC (shortened; full value 84810.5422578894037069301962185488 USDC)	62,698.79 USDC (shortened; full value 62698.7916501983000518719567 USDC)
10%	855,929.687249 USDC (shortened; full value 855929.68724945342329625 USDC)	283,077.35 USDC (shortened; full value 283077.3538370893421556811928764999 USDC)	159,343.01 USDC (shortened; full value 159343.0116501983000518719567 USDC)
100%	7,858,990.764744 USDC (shortened; full value 7858990.76474498143208375 USDC)	643,531.73 USDC (shortened; full value 643531.7362468417305730011664188331 USDC)	160,122.05 USDC (shortened; full value 160122.0572501983000518719567 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(1)

THIN_DEPTH_5PCT

Could not be evaluated(6)

MANIPULATION_RATIO_LOW
NO_GENUINE_TRADE_30D
HOLDER_CONCENTRATION_EXTREME
NO_GENUINE_TRADE_7D
HOLDER_CONCENTRATION_HIGH
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: 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

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

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

Band at each reading

Critical: 9 of 25
Medium: 16 of 25

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

ZERO_DEPTH_2PCT

9 of 25

Price

Lowest: 73,728.02102102 USDC (shortened; full value 73728.021021021021021 USDC)
Highest: 77,838.63664994 USDC (shortened; full value 77838.6366499494342962 USDC)

2026-09-17T11:45:33Z — 2026-09-18T11:30:28Z

Mid price: 77,783.7539 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: 0 USDC
Highest: 3,228.19 USDC (shortened; full value 3228.1947901895592783122015091133 USDC)

2026-09-17T11:45:33Z — 2026-09-18T11:30:28ZOne scale across every line on this chart

2% from mid: 1,004.06 USDC (shortened; full value 1004.0691509296863183145958710142 USDC)
5% from mid: 1,791.54 USDC (shortened; full value 1791.5497270739792327416256978852 USDC)
10% from mid: 3,228.19 USDC (shortened; full value 3228.1947901895592783122015091133 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.

Lowest: 13,195.10 USDC (shortened; full value 13195.10928526134193754063989 USDC)
Highest: 13,556.67 USDC (shortened; full value 13556.67381361292173220348925 USDC)

2026-09-17T11:45:33Z — 2026-09-18T11:30:28Z

Manipulation cost, 0.5%: 13,551.48 USDC (shortened; full value 13551.48392356564618094082696 USDC)

Collateral ceiling

Lowest: 1,402.04 USDC (shortened; full value 1402.0425845729381080852676797898672447376722320078365 USDC)
Highest: 1,977.63 USDC (shortened; full value 1977.6346605708062413760068183973278327572000980578725 USDC)

2026-09-17T11:45:33Z — 2026-09-18T11:30:28Z

Max safe collateral: 1,433.02 USDC (shortened; full value 1433.025992781561484354655667704987413245198080307533 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: 64,489,231
Closed at 2026-09-18T11:45:33Z
Computed at: 2026-09-18T11:45:38.042379Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against