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Keel
Ledger
64,492,652
Methodology
1.0.8-draft
Age
6s

EURC against USDC — what depth stands behind this price?

How has this moved over time?

WindowLast 24 hoursLast 7 daysLast 30 days
ResolutionHourlyDaily
SourceHorizonHubbleOffers impliedTrades implied

Price

Mid price
1.14398365 USDC (shortened; full value 1.1439836567812676 USDC)

Lower than at the start of 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
40,251.17 USDC (shortened; full value 40251.177023558791846500507468559 USDC)
5% from mid
47,856.34 USDC (shortened; full value 47856.3499368162818566531038377302 USDC)
10% from mid
48,037.37 USDC (shortened; full value 48037.3778231571203631922824043147 USDC)

Higher 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%
48,118.88 USDC (shortened; full value 48118.88196501681242230836245 USDC)

Higher than at the start of the window

Collateral ceiling

Max safe collateral
12,029.72 USDC (shortened; full value 12029.7204912542031055770906125 USDC)

Higher than at the start of the window

2026-09-17T16:45:38Z — 2026-09-18T16:15:38Z

Which checks were firing

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

THIN_DEPTH_5PCTthroughout

25 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

Medium

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.

12,068.44 USDC (shortened; full value 12068.4485370844265736166096025 USDC)

Limited by manipulation cost

Liquidation term
25,490.98 USDC (shortened; full value 25490.983819634425493509859550541003812935861008876848 USDC)

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

Manipulation termbinds
12,068.44 USDC (shortened; full value 12068.4485370844265736166096025 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
40,408.99 USDC (shortened; full value 40408.9949925060989912076226309876 USDC)
Sell side
34,518.35 USDC (shortened; full value 34518.359255830153032768341828248703356169784685280768 USDC)

5% from mid

Buy side
48,011.51 USDC (shortened; full value 48011.5174141396946005290174871423 USDC)
Sell side
50,365.01 USDC (shortened; full value 50365.014148791033748023453288870985522039635934301568 USDC)

10% from mid

Buy side
48,192.55 USDC (shortened; full value 48192.5513082202027966917845575534 USDC)
Sell side
50,981.96 USDC (shortened; full value 50981.967639268850987019719101082007625871722017753696 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%1.716327 USDC (shortened; full value 1.716327784349005575 USDC)48,819.97 USDC (shortened; full value 48819.9785618697776807558461172222 USDC)48,273.79 USDC (shortened; full value 48273.79414833770629446643841 USDC)
1%2.288437 USDC (shortened; full value 2.2884370457986741 USDC)49,472.39 USDC (shortened; full value 49472.3958442145142419156890380117 USDC)48,466.29 USDC (shortened; full value 48466.29414833770629446643841 USDC)
10%12.586403 USDC (shortened; full value 12.58640375189270755 USDC)55,378.81 USDC (shortened; full value 55378.8187176096681647028111675318 USDC)49,754.79 USDC (shortened; full value 49754.79414833770629446643841 USDC)
100%115.566070 USDC (shortened; full value 115.56607081283304205 USDC)75,629.01 USDC (shortened; full value 75629.0143444799887839403764176979 USDC)53,660.66 USDC (shortened; full value 53660.66181585469989446643841 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