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Keel
Ledger
64,492,833
Methodology
1.0.8-draft
Age
7s

HU against USDC — what depth stands behind this price?

How has this moved over time?

Price

Mid price
0.00004558 USDC (shortened; full value 0.0000455804200952 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
0.45 USDC (shortened; full value 0.4505660608092007424523823304 USDC)
5% from mid
1.11 USDC (shortened; full value 1.1182121778453962666022608416 USDC)
10% from mid
2.21 USDC (shortened; full value 2.2101024144788284188046138019 USDC)

Lower 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.

No point in this range carried a value.

Not enough readings in this window to show a direction.

Collateral ceiling

Max safe collateral
1.15 USDC (shortened; full value 1.15486946366626228216822654233155059342811140767 USDC)

Lower than at the start of the window

2026-09-11T17:48:07Z2026-09-18T16:30:43Z

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
HOLDER_CONCENTRATION_EXTREME150 of 168
HOLDER_CONCENTRATION_HIGH150 of 168

168 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

High

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.

1.15 USDC (shortened; full value 1.15345730776193807594739327945013371894168727122 USDC)

Limited by liquidation depth

Liquidation termbinds
1.15 USDC (shortened; full value 1.15345730776193807594739327945013371894168727122 USDC)

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

Manipulation term
not applicable

Not applied: the critical target is not reachable through the order book.

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
0.45 USDC (shortened; full value 0.4500151158382947636940531116 USDC)
Sell side
0.45 USDC (shortened; full value 0.451815083309390801350647308685921279398178485 USDC)

5% from mid

Buy side
1.11 USDC (shortened; full value 1.116844845883722773146918877 USDC)
Sell side
1.13 USDC (shortened; full value 1.13827234507097668878650779204246827103553779691 USDC)

10% from mid

Buy side
2.20 USDC (shortened; full value 2.207399936604091417026483699 USDC)
Sell side
2.30 USDC (shortened; full value 2.30691461552387615189478655890026743788337454244 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%0.000068 USDC (shortened; full value 0.0000682030909404 USDC)10.16 USDC (shortened; full value 10.1641778788230723201860217976 USDC)unreachablebook ends at 0 USDC
1%0.000090 USDC (shortened; full value 0.0000909374545872 USDC)18.73 USDC (shortened; full value 18.7329762041398722584853754433 USDC)unreachablebook ends at 0 USDC
10%0.000500 USDC (shortened; full value 0.0005001560002296 USDC)104.77 USDC (shortened; full value 104.7702948764361011867935877128 USDC)unreachablebook ends at 0 USDC
100%0.004592 USDC (shortened; full value 0.0045923414566536 USDC)409.28 USDC (shortened; full value 409.2842921163968089497727437267 USDC)unreachablebook ends at 0 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
97.5568 % (shortened; full value 97.556832285851753800336638 %)
Top ten holders
100 %
Concentration index
9,523.30 (shortened; full value 9523.3043048005009086906611844707033982664602368052210834)

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