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keel
Ledger
65,278,755
Methodology
1.0.8-draft
Age
7s

ETH against USDC — what depth stands behind this price?

All assets

ETH / USDC

GBFX…SOCC

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
28.69 USDC (shortened; full value 28.695850388483939048023834071027981628241529287526 USDC)Limited by liquidation depth
Depth within 5%
buy27.78 USDC (shortened; full value 27.7850011343837807684643025448 USDC)sell28.31 USDC (shortened; full value 28.318077050361855824834637007942680273391464888553 USDC)
Cost to move +50%
5,212.04 USDC (shortened; full value 5212.0475955 USDC)Reachable through the order book
Checks
6 triggered3 not evaluated

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
11.18 USDC (shortened; full value 11.1893731738061205123350078632 USDC)
Highest
111.74 USDC (shortened; full value 111.7464157152925384222399726281 USDC)
2026-11-02T04:53:39Z — 2026-11-03T04:08:39ZOne scale across every line on this chart
2% from mid
11.18 USDC (shortened; full value 11.1893731738061205123350078632 USDC)
5% from mid
27.76 USDC (shortened; full value 27.769719989418017121941778844 USDC)
10% from mid
54.88 USDC (shortened; full value 54.8857599782814103930204957943 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.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT10 of 25
Nothing tradable within 2%ZERO_DEPTH_2PCT15 of 25

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.

Concentration and wash trading bound how much of the depth is real.

Largest holder
76.1543 % (shortened; full value 76.15436576869578083760859481 %)
Top ten holders
90.4254 % (shortened; full value 90.42545689821594803874742818 %)
Concentration index
5,863.12 (shortened; full value 5863.1244528370913937087956423365791704115259791061372325)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Volume to supply, 30 day
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Last genuine trade
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used