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keel
Ledger
65,275,697
Methodology
1.0.8-draft
Age
5s

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 9.91979572717006903248574362602307331943990098259 USDC)Limited by liquidation depth
Depth within 5%
buy9.60 USDC (shortened; full value 9.6049265106859008409982093822 USDC)sell9.78 USDC (shortened; full value 9.789204270881848079546373904647197872098602513645 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.

Lower at the end of the window than at its start

Lowest
3.67 USDC (shortened; full value 3.677186330037307621268471417126194347829413788712 USDC)
Highest
10.54 USDC (shortened; full value 10.549334405829711707168352084902847686218409121372 USDC)
2026-10-04T00:53:32Z — 2026-10-24T19:53:33Z
Max safe collateral
3.67 USDC (shortened; full value 3.677186330037307621268471417126194347829413788712 USDC)
500 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_CONFLICT499 of 500
Extreme spreadSPREAD_EXTREME499 of 500
Nothing tradable within 2%ZERO_DEPTH_2PCT1 of 500

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 9.91979572717006903248574362602307331943990098259 USDC)

Limited by liquidation depth

Liquidation termbinds
9.91 USDC (shortened; full value 9.91979572717006903248574362602307331943990098259 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.