What depth stands behind this price?

EURC against USDC · GDHU6W…ITNPP2

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.

Low
Medium — this asset
High
Critical

Mediumpartial 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.

10,522.64 USDC (shortened; full value 10522.649556965671122014177355 USDC)

Limited by manipulation cost

Liquidation term: 25,277.39 USDC (shortened; full value 25277.393243757801018210332863750667762595184899202064 USDC)
Sell-side depth at the liquidation delta, times the haircut.
Manipulation termbinds: 10,522.64 USDC (shortened; full value 10522.649556965671122014177355 USDC)
Order-book-only manipulation cost at the critical delta, times the safety margin.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from

Source: GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What this computation could not do

maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.

Mid price: 1.14600034 USDC (shortened; full value 1.146000345 USDC)
Source: order book mid
Spread: 0.1373 % (shortened; full value 0.13739001099515375800344982 %)
Undefined unless the price came from a two-sided book
Pool spot price: 1.14361755 USDC (shortened; full value 1.1436175531907974 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: 0.2083 % (shortened; full value 0.20835565198823621354939075 %)
Null means there is no pool to diverge from, not that the sources agree

Where this number comes from

Source: GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

38,667.66 USDC

Sell side

38,446.79 USDC

5% from mid

Buy side

40,444.30 USDC

Sell side

50,438.51 USDC

10% from mid

Buy side

41,369.32 USDC

Sell side

50,554.78 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.

Where this number comes from

Source: GET /asset/{assetId}/depth → depth[]
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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.
Move	Target price	Cost, all venues	Cost, order book only
0.5%	1.719000 USDC (shortened; full value 1.7190005175 USDC)	42,639.09 USDC (shortened; full value 42639.0965398682216260668823843782 USDC)	42,090.59 USDC (shortened; full value 42090.59822786268448805670942 USDC)
1%	2.292000 USDC (shortened; full value 2.29200069 USDC)	43,604.46 USDC (shortened; full value 43604.4627080744449672765571072463 USDC)	42,595.68 USDC (shortened; full value 42595.68915238457118805670942 USDC)
10%	12.606003 USDC (shortened; full value 12.606003795 USDC)	51,606.80 USDC (shortened; full value 51606.8092585926825681815751400667 USDC)	45,976.51 USDC (shortened; full value 45976.51862263309926805670942 USDC)
100%	115.746034 USDC (shortened; full value 115.746034845 USDC)	71,869.72 USDC (shortened; full value 71869.725950219181981178602693486 USDC)	49,882.38 USDC (shortened; full value 49882.38629015009286805670942 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.

How far the book actually goes

Furthest price the book reaches: not computed
Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning
Cost to walk it that far: not computed
Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from

Source: GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(1)

THIN_DEPTH_5PCT

Could not be evaluated(6)

MANIPULATION_RATIO_LOW
NO_GENUINE_TRADE_30D
HOLDER_CONCENTRATION_EXTREME
NO_GENUINE_TRADE_7D
HOLDER_CONCENTRATION_HIGH
WASH_TRADE_SUSPECTED

Where this number comes from

Source: GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

Where this number comes from

Source: GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

WindowLast 24 hours Last 7 days Last 30 days

ResolutionHourly Daily

SourceHorizon Hubble Offers implied Trades implied

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

Band at each reading

Low: 52 of 162
Medium: 110 of 162

Which checks were firing

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

THIN_DEPTH_5PCT

110 of 162

Price

Lowest: 1.14167035 USDC (shortened; full value 1.1416703565158065 USDC)
Highest: 1.15887064 USDC (shortened; full value 1.15887064427797595 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:38Z

Mid price: 1.14600125 USDC (shortened; full value 1.14600125594980145 USDC)

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, and the lines darken as the rung widens.

Lowest: 21,463.04 USDC (shortened; full value 21463.044367585751044217157441609 USDC)
Highest: 224,920.54 USDC (shortened; full value 224920.5479751870821532152125342045 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:38ZOne scale across every line on this chart

2% from mid: 38,479.26 USDC (shortened; full value 38479.2671925951869382720401584667 USDC)
5% from mid: 46,264.54 USDC (shortened; full value 46264.5418772702880988510872211292 USDC)
10% from mid: 46,445.62 USDC (shortened; full value 46445.6213525451768041977850888107 USDC)

Cost to move the price by half

The series carries one manipulation rung, at the half per cent delta the engine treats as critical. A reading the engine could not produce breaks the line rather than sitting at zero.

Lowest: 29,420.24 USDC (shortened; full value 29420.24456949276701673192614 USDC)
Highest: 224,936.58 USDC (shortened; full value 224936.58496405339980200646581 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:38Z

Manipulation cost, 0.5%: 46,524.88 USDC (shortened; full value 46524.88167574991303516951042 USDC)

Collateral ceiling

Lowest: 7,355.06 USDC (shortened; full value 7355.061142373191754182981535 USDC)
Highest: 56,234.14 USDC (shortened; full value 56234.1462410133499505016164525 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:38Z

Max safe collateral: 11,631.22 USDC (shortened; full value 11631.220418937478258792377605 USDC)

Where this number comes from

Source: GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What was this computed from?

Ledger: 64,488,691
Closed at 2026-09-18T11:00:33Z
Computed at: 2026-09-18T11:00:43.123396Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against