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
High
Critical — this asset

Criticalpartial 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.

1,962.76 USDC (shortened; full value 1962.76757231000626031659532587090314632764124028552 USDC)

Limited by liquidation depth

Liquidation termbinds: 1,962.76 USDC (shortened; full value 1962.76757231000626031659532587090314632764124028552 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation term: 3,386.11 USDC (shortened; full value 3386.1151062551819465719513275 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: 74,744.4019 USDC
Source: order book mid
Spread: 9.4064 % (shortened; full value 9.40646205103957089795108789 %)
Undefined unless the price came from a two-sided book
Pool spot price: 77,951.29363578 USDC (shortened; full value 77951.2936357881279976 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 4.1139 % (shortened; full value 4.11396859014513602988853873 %)
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

0 USDC

Sell side

1,627.69 USDC

5% from mid

Buy side

651.41 USDC

Sell side

2,558.73 USDC

10% from mid

Buy side

1,974.49 USDC

Sell side

3,925.53 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%	112,116.60285 USDC	24,199.41 USDC (shortened; full value 24199.4113534166638748900173850221 USDC)	13,544.46 USDC (shortened; full value 13544.46042502072778628780531 USDC)
1%	149,488.8038 USDC	37,033.46 USDC (shortened; full value 37033.4697947545781318878392440358 USDC)	16,459.09 USDC (shortened; full value 16459.09257423455397145570444 USDC)
10%	822,188.4209 USDC	279,572.87 USDC (shortened; full value 279572.8759536144583489366247790824 USDC)	159,399.83 USDC (shortened; full value 159399.83757423455397145570444 USDC)
100%	7,549,184.5919 USDC	632,863.91 USDC (shortened; full value 632863.9116674899014001529081351333 USDC)	160,178.88 USDC (shortened; full value 160178.88317423455397145570444 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(2)

ZERO_DEPTH_2PCT
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

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

Band at each reading

Medium: 145 of 162
Critical: 17 of 162

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

17 of 162

Price

Lowest: 73,431.58958958 USDC (shortened; full value 73431.5895895895895896 USDC)
Highest: 80,863.49999350 USDC (shortened; full value 80863.4999935000217609 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:23Z

Mid price: 74,692.25974994 USDC (shortened; full value 74692.2597499495866102 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: 10,980.37 USDC (shortened; full value 10980.3743774940103149237311245917 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:23ZOne scale across every line on this chart

2% from mid: 0 USDC
5% from mid: 616.43 USDC (shortened; full value 616.4334725620384779879939814808 USDC)
10% from mid: 1,939.07 USDC (shortened; full value 1939.0739132634491287141691398558 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: 12,736.71 USDC (shortened; full value 12736.71866358802649297668604 USDC)
Highest: 21,117.45 USDC (shortened; full value 21117.4509928123644186514949 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:23Z

Manipulation cost, 0.5%: 13,540.78 USDC (shortened; full value 13540.78036207789624106523524 USDC)

Collateral ceiling

Lowest: 1,234.90 USDC (shortened; full value 1234.90030209082006124301028475159041542978601476747 USDC)
Highest: 2,367.54 USDC (shortened; full value 2367.5427061138100679958734373058265247593322862146995 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:23Z

Max safe collateral: 1,977.63 USDC (shortened; full value 1977.6346605708062413760068183973278327572000980578725 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: 64,488,690
Closed at 2026-09-18T11:00:28Z
Computed at: 2026-09-18T11:00:37.86475Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against