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keel
Ledger
65,277,314
Methodology
1.0.8-draft
Age
7s

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
9.91 USDC (shortened; full value 9.919673542844253649012666031466658095172711858856 USDC)Limited by liquidation depth
Depth within 5%
buy9.60 USDC (shortened; full value 9.6048082046735184107316317847 USDC)sell9.78 USDC (shortened; full value 9.789083695080610451660904666249975914051284308668 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

Collateral ceiling

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

Lower at the end of the window than at its start

Lowest
9.91 USDC (shortened; full value 9.919341974956518178081275493534772609274774461822 USDC)
Highest
10.00 USDC (shortened; full value 10.00569686193499624093616489484660635114924109467 USDC)
2026-11-02T02:53:29Z — 2026-11-03T02:08:29Z
Max safe collateral
9.91 USDC (shortened; full value 9.919673542844253649012666031466658095172711858856 USDC)
25 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.
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

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.

9.91 USDC (shortened; full value 9.919673542844253649012666031466658095172711858856 USDC)

Limited by liquidation depth

Liquidation termbinds
9.91 USDC (shortened; full value 9.919673542844253649012666031466658095172711858856 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.