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keel
Ledger
65,275,156
Methodology
1.0.8-draft
Age
4s

EURC against USDC — what depth stands behind this price?

All assets

EURC / USDC

GAQR…Z7NM

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
7.30 USDC (shortened; full value 7.307948354377048448009933753419062227419834962842 USDC)Limited by liquidation depth
Depth within 5%
buy0.86 USDC (shortened; full value 0.8607781465327861179907058353 USDC)sell9.28 USDC (shortened; full value 9.283250017791212972289364156286145359235373217532 USDC)
Cost to move +50%
168.60 USDC (shortened; full value 168.60975458551597985464146 USDC)Reachable through the order book
Checks
4 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.

Higher at the end of the window than at its start

Lowest
0 USDC
Highest
5.77 USDC (shortened; full value 5.7784433561343603338523449008 USDC)
2026-11-01T23:53:39Z — 2026-11-02T23:08:39ZOne scale across every line on this chart
2% from mid
0 USDC
5% from mid
0.86 USDC (shortened; full value 0.8607781465327861179907058353 USDC)
10% from mid
5.77 USDC (shortened; full value 5.7784433561343603338523449008 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.
Nothing tradable within 2%nowZERO_DEPTH_2PCTthroughout
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

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.

7.30 USDC (shortened; full value 7.307948354377048448009933753419062227419834962842 USDC)

Limited by liquidation depth

Liquidation termbinds
7.30 USDC (shortened; full value 7.307948354377048448009933753419062227419834962842 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation term
42.15 USDC (shortened; full value 42.152438646378994963660365 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.