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keel
Ledger
65,274,974
Methodology
1.0.8-draft
Age
8s

BTCLN against USDC — what depth stands behind this price?

All assets

BTCLN / USDC

GDPK…VBVT

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
9.92 USDC (shortened; full value 9.92002691885496247053149844896208523018979560934 USDC)Limited by liquidation depth
Depth within 5%
buy9.60 USDC (shortened; full value 9.6051503640005808681184059857 USDC)sell9.78 USDC (shortened; full value 9.78943241898889434171896110436557683611942161577 USDC)
Cost to move +50%
21,000.07 USDC (shortened; full value 21000.07406870005819486444238 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Higher at the end of the window than at its start

Lowest
1.05 USDC (shortened; full value 1.059933925047114403428291954746607644075132347556 USDC)
Highest
10.02 USDC (shortened; full value 10.023958004346182217197239387998865851192469842806 USDC)
2026-10-26T23:53:33Z — 2026-11-02T22:53:29Z
Max safe collateral
9.92 USDC (shortened; full value 9.920171461303333523697742263739656350445411610394 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT91 of 168
Nothing tradable within 2%ZERO_DEPTH_2PCT77 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.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

9.92 USDC (shortened; full value 9.92002691885496247053149844896208523018979560934 USDC)

Limited by liquidation depth

Liquidation termbinds
9.92 USDC (shortened; full value 9.92002691885496247053149844896208523018979560934 USDC)

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

Manipulation term
5,250.01 USDC (shortened; full value 5250.018517175014548716110595 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.