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Keel
Ledger
64,491,932
Methodology
1.0.8-draft
Age
4s

EURC against USDC — what depth stands behind this price?

How has this moved over time?

Price

Mid price
0.59653605 USDC

Unchanged across the window

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.

2% from mid
0 USDC
5% from mid
1.14 USDC (shortened; full value 1.1443462091434029953188881249 USDC)
10% from mid
6.17 USDC (shortened; full value 6.1739393393226070491944581206 USDC)

Lower than at the start of the window

Cost to move the price by half

One manipulation rung, at the delta the engine treats as critical. A reading it could not produce breaks the line rather than sitting at zero.

Manipulation cost, 0.5%
74.87 USDC (shortened; full value 74.87520586168669726711392 USDC)

Higher than at the start of the window

Collateral ceiling

Max safe collateral
7.31 USDC (shortened; full value 7.3109410640875859461000939607177949961964170676565 USDC)

Higher than at the start of the window

2026-09-17T23:45:38Z2026-09-18T15:15:38Z

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

MANIPULATION_CHEAPthroughout
SPREAD_EXTREMEthroughout
THIN_DEPTH_5PCTthroughout
ZERO_DEPTH_2PCT1 of 2

2 readings from horizon, with no gaps reported. One source per chart.

How much can this asset safely back?

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

Risk band

Critical

partial confidence

A band marked partial is a floor. At least one high-severity check could not be evaluated, so the real band can only be worse than the one shown, never better.

7.31 USDC (shortened; full value 7.3109410640875859461000939607177949961964170676565 USDC)

Limited by liquidation depth

Liquidation termbinds
7.31 USDC (shortened; full value 7.3109410640875859461000939607177949961964170676565 USDC)

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

Manipulation term
18.71 USDC (shortened; full value 18.71880146542167431677848 USDC)

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

What volume can it absorb before the price moves?

Three rungs at 2, 5 and 10 per cent, in each direction. The buy side matters for oracle manipulation and the sell side for liquidation.
  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
0 USDC
Sell side
6.06 USDC (shortened; full value 6.066242947341660429814508396312059909167797364864 USDC)

5% from mid

Buy side
1.14 USDC (shortened; full value 1.1443462091434029953188881249 USDC)
Sell side
9.23 USDC (shortened; full value 9.2321542867101986512889559601978020604341182286 USDC)

10% from mid

Buy side
6.17 USDC (shortened; full value 6.1739393393226070491944581206 USDC)
Sell side
14.62 USDC (shortened; full value 14.621882128175171892200187921435589992392834135313 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.

What would it cost to move the price?

Read cost together with reachability: a figure on an unreachable rung says how far the book goes, not what the move costs.
Cost to move the price by each delta, through all venues and through the order book alone, with whether the target is reachable at all.
MoveTarget priceCost, all venuesCost, order book only
0.5%0.894804 USDC (shortened; full value 0.894804075 USDC)117.74 USDC (shortened; full value 117.7454625324988431141204861339 USDC)74.87 USDC (shortened; full value 74.87520586168669726711392 USDC)
1%1.193072 USDC (shortened; full value 1.1930721 USDC)246.23 USDC (shortened; full value 246.2391120724159309548608282979 USDC)163.84 USDC (shortened; full value 163.84992641064721806711392 USDC)
10%6.561896 USDC (shortened; full value 6.56189655 USDC)643.03 USDC (shortened; full value 643.0395218961667856849919308672 USDC)163.84 USDC (shortened; full value 163.84992641064721806711392 USDC)
100%60.250141 USDC (shortened; full value 60.25014105 USDC)2,047.44 USDC (shortened; full value 2047.4449678877359354982770517885 USDC)163.84 USDC (shortened; full value 163.84992641064721806711392 USDC)

Reachability on the all-venues ladder is unconditionally true whenever an active pool exists, because a constant product curve has no upper price bound. The order-book-only column is the one that answers whether a target is attainable, and it is the one Keel itself uses.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.
Largest holder
not computed
Top ten holders
not computed
Concentration index
not computed

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

Of 30 day volume. A high share indicates suspected wash trading

Volume to supply, 30 day
not computed
Last genuine trade
not computed

No genuine trade was found in the window