Skip to content
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

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.

Lower at the end of the window than at its start

Lowest
3.97 USDC (shortened; full value 3.9717569615431014050150300758 USDC)
Highest
374.36 USDC (shortened; full value 374.3649664066961158837419192743 USDC)
2026-10-04T23:53:32Z — 2026-10-24T19:53:33ZOne scale across every line on this chart
2% from mid
17.85 USDC (shortened; full value 17.8524639832488156401285821862 USDC)
5% from mid
23.92 USDC (shortened; full value 23.9294166695529171592502188633 USDC)
10% from mid
374.36 USDC (shortened; full value 374.3649664066961158837419192743 USDC)
21 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_CONFLICT20 of 21
Extreme spreadSPREAD_EXTREME20 of 21
Nothing tradable within 2%ZERO_DEPTH_2PCT1 of 21

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.