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.

1,425.71 USDC (shortened; full value 1425.710700679608118598256272526963674372195892186087 USDC)

Limited by liquidation depth

Liquidation termbinds: 1,425.71 USDC (shortened; full value 1425.710700679608118598256272526963674372195892186087 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation term: 3,384.86 USDC (shortened; full value 3384.86264966791729094113222 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: 77,859.40145 USDC
Source: order book mid
Spread: 0.6220 % (shortened; full value 0.62200131388243545250115714 %)
Undefined unless the price came from a two-sided book
Pool spot price: 77,825.97084389 USDC (shortened; full value 77825.9708438988851486 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 0.0429 % (shortened; full value 0.04295559148008446767907958 %)
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

1,000.37 USDC

Sell side

523.22 USDC

5% from mid

Buy side

1,788.23 USDC

Sell side

1,334.28 USDC

10% from mid

Buy side

3,225.50 USDC

Sell side

2,851.42 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%	116,789.102175 USDC	25,559.97 USDC (shortened; full value 25559.9719889835756196621013595436 USDC)	13,539.45 USDC (shortened; full value 13539.45059867166916376452888 USDC)
1%	155,718.8029 USDC	84,835.18 USDC (shortened; full value 84835.1876555029010699042941452057 USDC)	62,690.56 USDC (shortened; full value 62690.56996788549534893242801 USDC)
10%	856,453.41595 USDC	282,940.45 USDC (shortened; full value 282940.4529162208510222393694840821 USDC)	159,142.12 USDC (shortened; full value 159142.12996788549534893242801 USDC)
100%	7,863,799.54645 USDC	643,504.95 USDC (shortened; full value 643504.9567439126800609141080591601 USDC)	159,921.17 USDC (shortened; full value 159921.17556788549534893242801 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

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

Band at each reading

Medium: 7 of 8
Critical: 1 of 8

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

1 of 8

Price

Lowest: 75,605.76060576 USDC (shortened; full value 75605.7606057606057606 USDC)
Highest: 80,863.49999350 USDC (shortened; full value 80863.4999935000217609 USDC)

2026-09-11T23:47:54Z — 2026-09-18T12:30:33Z

Mid price: 77,810.18414995 USDC (shortened; full value 77810.18414995031120875 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: 570.18 USDC (shortened; full value 570.1845432501561189361391693017 USDC)
Highest: 6,860.46 USDC (shortened; full value 6860.4676036729097797038359593036 USDC)

2026-09-11T23:47:54Z — 2026-09-18T12:30:33ZOne scale across every line on this chart

2% from mid: 991.22 USDC (shortened; full value 991.2298711463863094563504709017 USDC)
5% from mid: 1,778.84 USDC (shortened; full value 1778.8448943561210899383975318191 USDC)
10% from mid: 3,215.70 USDC (shortened; full value 3215.7098365878288056190586705078 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: 12,749.09 USDC (shortened; full value 12749.0964108532917582419514 USDC)
Highest: 16,989.81 USDC (shortened; full value 16989.81432180383814327715556 USDC)

2026-09-11T23:47:54Z — 2026-09-18T12:30:33Z

Manipulation cost, 0.5%: 13,547.36 USDC (shortened; full value 13547.36966635090485472578204 USDC)

Collateral ceiling

Lowest: 1,388.49 USDC (shortened; full value 1388.499374054030061368113033891552966502449684188816 USDC)
Highest: 2,307.59 USDC (shortened; full value 2307.599806106256260686209671009032177976019037019425 USDC)

2026-09-11T23:47:54Z — 2026-09-18T12:30:33Z

Max safe collateral: 1,433.70 USDC (shortened; full value 1433.709894661715593827550596571519481805030212780468 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: 64,489,950
Closed at 2026-09-18T12:45:28Z
Computed at: 2026-09-18T12:45:38.064941Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against