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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

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Unchanged across the window

Lowest
1.10 USDC (shortened; full value 1.1000000000000218949632 USDC)
Highest
1.10 USDC (shortened; full value 1.1000000000000218949632 USDC)
2026-11-02T05:53:39Z — 2026-11-03T05:23:39Z
Cost to move +50%
1.10 USDC (shortened; full value 1.1000000000000218949632 USDC)
25 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
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout

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