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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

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
16.40 USDC (shortened; full value 16.405460713850876763568137596829344096592010773824 USDC)
Highest
58.81 USDC (shortened; full value 58.815542271219896792153394667935113732866466774549 USDC)
2026-10-04T23:53:37Z — 2026-10-25T01:23:33Z
Max safe collateral
16.91 USDC (shortened; full value 16.918463806509332577809144256525481605389768842488 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.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
11.19 USDC (shortened; full value 11.199672867099237809001683415 USDC)
Sell side
11.24 USDC (shortened; full value 11.2444692442390211163537705409806384005598179195 USDC)

5% from mid

Buy side
27.79 USDC (shortened; full value 27.7952817071553712242630292507 USDC)
Sell side
28.32 USDC (shortened; full value 28.328554863569769782096246234236759213716045983717 USDC)

10% from mid

Buy side
54.93 USDC (shortened; full value 54.9362817086013277678823161807 USDC)
Sell side
57.41 USDC (shortened; full value 57.412935958980982890601784317669483804378154489628 USDC)

Bars share one scale. The venue split decomposes the buy side; the sell side is drawn as an outline because its composition is not reported.