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keel
Ledger
65,274,974
Methodology
1.0.8-draft
Age
7s

BTC against USDC — what depth stands behind this price?

All assets

BTC / USDC

GDPJ…2MZM

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
1,672.59 USDC (shortened; full value 1672.592578649794991525594295409441323769316906560382 USDC)Limited by liquidation depth
Depth within 5%
buy1,022.20 USDC (shortened; full value 1022.2030304392745875474217523715 USDC)sell1,761.28 USDC (shortened; full value 1761.280010540506445523526856266736110532411594004618 USDC)
Cost to move +50%
14,838.37 USDC (shortened; full value 14838.37569205458567638295954 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Lower at the end of the window than at its start

Lowest
14,257.90 USDC (shortened; full value 14257.90317913072593963740662 USDC)
Highest
17,332.28 USDC (shortened; full value 17332.28025808344394450627966 USDC)
2026-10-26T23:53:33Z — 2026-11-02T22:53:29Z
Cost to move +50%
14,854.32 USDC (shortened; full value 14854.3248232087398305371239 USDC)
168 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.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%ZERO_DEPTH_2PCT1 of 168

Not evaluated3

  • 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.

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only
14,838.37 USDC (shortened; full value 14838.37569205458567638295954 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
17.87 USDC (shortened; full value 17.8787157 USDC)

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
829.9463 (shortened; full value 829.9463977747901476157462216372)

Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable

Total attack cost
14,856.25 USDC (shortened; full value 14856.25440775458567638295954 USDC)

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh