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keel
Ledger
65,278,756
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 20.5045707525250841717063801956 USDC)sell20.89 USDC (shortened; full value 20.897966195727464837637913003825895186794400188852 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.

Unchanged across the window

Lowest
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)
Highest
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)
2026-10-27T23:53:38Z — 2026-11-03T04:08:39Z
Max safe collateral
0.27 USDC (shortened; full value 0.2750000000000054737408 USDC)
8 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.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
8.26 USDC (shortened; full value 8.2619952237956322900446031415 USDC)
Sell side
8.29 USDC (shortened; full value 8.295041497411309505247519493827898437712816942 USDC)

5% from mid

Buy side
20.50 USDC (shortened; full value 20.5045707525250841717063801956 USDC)
Sell side
20.89 USDC (shortened; full value 20.897966195727464837637913003825895186794400188852 USDC)

10% from mid

Buy side
40.52 USDC (shortened; full value 40.5264780923117447301432082796 USDC)
Sell side
42.35 USDC (shortened; full value 42.353505169838307675333338051302877990646109417968 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.