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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.

Higher at the end of the window than at its start

Lowest
0 USDC
Highest
4,989.14 USDC (shortened; full value 4989.1460499661974736345169779787 USDC)
2026-10-04T04:53:37Z — 2026-10-25T00:08:58ZOne scale across every line on this chart
2% from mid
39.30 USDC (shortened; full value 39.308085282972276291151266255 USDC)
5% from mid
56.74 USDC (shortened; full value 56.7410948873072392934318724126 USDC)
10% from mid
85.25 USDC (shortened; full value 85.2516074124302532628535218775 USDC)
501 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.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Cheap to move the pricenowMANIPULATION_CHEAP489 of 501
Extreme spreadnowSPREAD_EXTREME461 of 501
Price sources disagreenowPRICE_SOURCE_CONFLICT7 of 501
Nothing tradable within 2%ZERO_DEPTH_2PCT241 of 501

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