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keel
Ledger
65,275,876
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
7.26 USDC (shortened; full value 7.262714301939783296895463490484409427409291044372 USDC)Limited by liquidation depth
Depth within 5%
buy0.95 USDC (shortened; full value 0.9518017047844122693181410775 USDC)sell9.19 USDC (shortened; full value 9.19277844801831876365210820488257171697634451152 USDC)
Cost to move +50%
167.80 USDC (shortened; full value 167.80311793025013985464146 USDC)Reachable through the order book
Checks
4 triggered3 not evaluated

History

Window
Resolution
Source

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
7.26 USDC (shortened; full value 7.262714301939783296895463490484409427409291044372 USDC)
Highest
34.36 USDC (shortened; full value 34.3692457097353276176523644423261083649686879079465 USDC)
2026-10-27T23:53:38Z — 2026-11-03T00:08:49Z
Max safe collateral
7.26 USDC (shortened; full value 7.262714301939783296895463490484409427409291044372 USDC)
8 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_2PCT6 of 8

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.

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only
167.80 USDC (shortened; full value 167.80311793025013985464146 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
0 USDC

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
not computed

Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable

Total attack cost
167.80 USDC (shortened; full value 167.80311793025013985464146 USDC)

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh