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keel
Ledger
65,279,656
Methodology
1.0.8-draft
Age
6s

FRED against USDC — what depth stands behind this price?

All assets

FRED / USDC

GCA7…ZLV6

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)Limited by manipulation cost
Depth within 5%
buy20.50 USDC (shortened; full value 20.5037488151692870875630047032 USDC)sell20.89 USDC (shortened; full value 20.897128488892058990287399631701435967930637781408 USDC)
Cost to move +50%
1.10 USDC (shortened; full value 1.1000000000000218949632 USDC)Reachable through the order book
Checks
5 triggered3 not evaluated

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Higher at the end of the window than at its start

Lowest
0 USDC
Highest
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)
2026-10-04T05:53:42Z — 2026-10-25T01:23:38Z
Max safe collateral
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)
501 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
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT268 of 501
Extreme spreadnowSPREAD_EXTREME197 of 501
Nothing tradable within 2%ZERO_DEPTH_2PCT221 of 501

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
8.9812 % (shortened; full value 8.98124261560305898826284431 %)
Top ten holders
29.3094 % (shortened; full value 29.30940698583130212178957845 %)
Concentration index
178.89 (shortened; full value 178.8981090225270264799000426288613207853782024968633944)

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