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keel
Ledger
65,279,655
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
28.70 USDC (shortened; full value 28.706467979490491445300892158834741902189077244814 USDC)Limited by liquidation depth
Depth within 5%
buy27.79 USDC (shortened; full value 27.7952817071553712242630292507 USDC)sell28.32 USDC (shortened; full value 28.328554863569769782096246234236759213716045983717 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)
2026-10-04T23:53:37Z — 2026-10-25T01:23:33ZOne scale across every line on this chart
2% from mid
38.39 USDC (shortened; full value 38.3974690117025899469176158517 USDC)
5% from mid
55.83 USDC (shortened; full value 55.8305017857107296326882847344 USDC)
10% from mid
84.34 USDC (shortened; full value 84.3410522032729895817056011709 USDC)
22 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_CHEAP21 of 22
Extreme spreadnowSPREAD_EXTREME20 of 22
Price sources disagreenowPRICE_SOURCE_CONFLICT0 of 22
Nothing tradable within 2%ZERO_DEPTH_2PCT13 of 22

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