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keel
Ledger
65,274,436
Methodology
1.0.8-draft
Age
5s

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
7.36 USDC (shortened; full value 7.36803964553213688139591950147343976670166778042 USDC)Limited by liquidation depth
Depth within 5%
buy0.73 USDC (shortened; full value 0.7398576842159537322180839376 USDC)sell9.40 USDC (shortened; full value 9.40343719848730841295163203428755390892277016989 USDC)
Cost to move +50%
169.40 USDC (shortened; full value 169.40017914441036985464146 USDC)Reachable through the order book
Checks
4 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
0 USDC
Highest
55.06 USDC (shortened; full value 55.0659234079356849847404798351 USDC)
2026-10-26T22:53:38Z — 2026-11-02T22:08:39ZOne scale across every line on this chart
2% from mid
0 USDC
5% from mid
0.73 USDC (shortened; full value 0.7398576842159537322180839376 USDC)
10% from mid
5.65 USDC (shortened; full value 5.6575186026898669109984455939 USDC)
169 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT114 of 169

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
41.9873 % (shortened; full value 41.98737528633083256809218686 %)
Top ten holders
92.7748 % (shortened; full value 92.77481674077372859304799912 %)
Concentration index
2,433.64 (shortened; full value 2433.64600083119746362456185402574343327475952467533415)

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