What depth stands behind this price?

JDMC against USDC · GDZ7MG…MHGZX2

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.

Low
Medium — this asset
High
Critical

Mediumpartial 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.

6.15 USDC (shortened; full value 6.158777860805525685457174429565868373088836657494 USDC)

Limited by liquidation depth

Liquidation termbinds: 6.15 USDC (shortened; full value 6.158777860805525685457174429565868373088836657494 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.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from

Source: GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What this computation could not do

maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning
manipulation to delta 0.5 is unreachable through the order book; the manipulation term was not applied

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.

Mid price: 0.00026321 USDC (shortened; full value 0.0002632100248364 USDC)
Source: AMM pool spot
Spread: not computed
Undefined unless the price came from a two-sided book
Pool spot price: 0.00026321 USDC (shortened; full value 0.0002632100248364 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: not computed
Null means there is no pool to diverge from, not that the sources agree

Where this number comes from

Source: GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

2.40 USDC

Sell side

2.41 USDC

5% from mid

Buy side

5.96 USDC

Sell side

6.07 USDC

10% from mid

Buy side

11.78 USDC

Sell side

12.31 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.

Where this number comes from

Source: GET /asset/{assetId}/depth → depth[]
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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.
Move	Target price	Cost, all venues	Cost, order book only
0.5%	0.000394 USDC (shortened; full value 0.0003948150372546 USDC)	54.27 USDC (shortened; full value 54.2706810838503870956920910254 USDC)	unreachablebook ends at 0 USDC
1%	0.000526 USDC (shortened; full value 0.0005264200496728 USDC)	100.02 USDC (shortened; full value 100.0229816367551616086385049754 USDC)	unreachablebook ends at 0 USDC
10%	0.002895 USDC (shortened; full value 0.0028953102732004 USDC)	559.41 USDC (shortened; full value 559.4112310988416515384921563149 USDC)	unreachablebook ends at 0 USDC
100%	0.026584 USDC (shortened; full value 0.0265842125084764 USDC)	2,185.33 USDC (shortened; full value 2185.3353566703236489421522535632 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.

How far the book actually goes

Furthest price the book reaches: not computed
Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning
Cost to walk it that far: not computed
Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from

Source: GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(2)

THIN_DEPTH_5PCT
HOLDER_CONCENTRATION_HIGH

Could not be evaluated(5)

PRICE_SOURCE_CONFLICT
SPREAD_EXTREME
NO_GENUINE_TRADE_30D
NO_GENUINE_TRADE_7D
WASH_TRADE_SUSPECTED

Where this number comes from

Source: GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Who holds it, and is it genuinely traded?

Concentration and wash trading bound how much of the depth above is real.

Largest holder: 45.0172 % (shortened; full value 45.01728610260526922789780629 %)
Top ten holders: 96.4610 % (shortened; full value 96.46101964139282083193854105 %)
Concentration index: 2,551.26 (shortened; full value 2551.2695266016206998285996367575564003724610610670546853)
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

Where this number comes from

Source: GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

WindowLast 24 hours Last 7 days Last 30 days

ResolutionHourly Daily

SourceHorizon Hubble Offers implied Trades implied

162 readings from horizon, with no gaps reported. One source per chart.

Band at each reading

Medium: 162 of 162

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_5PCT

throughout

HOLDER_CONCENTRATION_HIGH

144 of 162

Price

Lowest: 0.00023099 USDC (shortened; full value 0.0002309964210466 USDC)
Highest: 0.00026350 USDC (shortened; full value 0.0002635033364316 USDC)

2026-09-11T17:48:07Z — 2026-09-18T10:45:43Z

Mid price: 0.00026321 USDC (shortened; full value 0.0002632100248364 USDC)

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, and the lines darken as the rung widens.

Lowest: 2.25 USDC (shortened; full value 2.2504769224298242939706268258 USDC)
Highest: 11.79 USDC (shortened; full value 11.7923609378537710032361954821 USDC)

2026-09-11T17:48:07Z — 2026-09-18T10:45:43ZOne scale across every line on this chart

2% from mid: 2.40 USDC (shortened; full value 2.4028137962300225340592020639 USDC)
5% from mid: 5.96 USDC (shortened; full value 5.9632890307224645196841899261 USDC)
10% from mid: 11.78 USDC (shortened; full value 11.7862063624002338156098825837 USDC)

Cost to move the price by half

The series carries one manipulation rung, at the half per cent delta the engine treats as critical. A reading the engine could not produce breaks the line rather than sitting at zero.

No point in this range carried a value.

Collateral ceiling

Lowest: 5.76 USDC (shortened; full value 5.76831524267963448199245062351307368095856223444 USDC)
Highest: 6.16 USDC (shortened; full value 6.16199387975856417281382928172502169935457970259 USDC)

2026-09-11T17:48:07Z — 2026-09-18T10:45:43Z

Max safe collateral: 6.15 USDC (shortened; full value 6.158777860805525685457174429565868373088836657494 USDC)

Where this number comes from

Source: GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What was this computed from?

Ledger: 64,488,693
Closed at 2026-09-18T11:00:43Z
Computed at: 2026-09-18T11:00:50.598039Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against