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Keel
Ledger
64,491,934
Methodology
1.0.8-draft
Age
5s

PAYBO against USDC — what depth stands behind this price?

How has this moved over time?

WindowLast 24 hoursLast 7 daysLast 30 days
ResolutionHourlyDaily
SourceHorizonHubbleOffers impliedTrades implied

Price

Mid price
0.00009856 USDC (shortened; full value 0.0000985642166368 USDC)

Higher 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
8.19 USDC (shortened; full value 8.1955456792450400507879408022 USDC)
5% from mid
20.33 USDC (shortened; full value 20.3396566669073085432974655147 USDC)
10% from mid
40.20 USDC (shortened; full value 40.2005318845824575526665377089 USDC)

Higher 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
21.00 USDC (shortened; full value 21.006432277752239086321570485141499427641621576458 USDC)

Higher than at the start of the window

2026-09-11T23:48:11Z — 2026-09-18T15:15:48Z

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_EXTREME7 of 8
HOLDER_CONCENTRATION_HIGH7 of 8

8 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.

21.00 USDC (shortened; full value 21.006432277752239086321570485141499427641621576458 USDC)

Limited by liquidation depth

Liquidation termbinds
21.00 USDC (shortened; full value 21.006432277752239086321570485141499427641621576458 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
8.19 USDC (shortened; full value 8.1955456792450400507879408022 USDC)
Sell side
8.22 USDC (shortened; full value 8.2283261684138161718067675275932420653058685665 USDC)

5% from mid

Buy side
20.33 USDC (shortened; full value 20.3396566669073085432974655147 USDC)
Sell side
20.72 USDC (shortened; full value 20.729888110697805357446970288250506225620626452799 USDC)

10% from mid

Buy side
40.20 USDC (shortened; full value 40.2005318845824575526665377089 USDC)
Sell side
42.01 USDC (shortened; full value 42.012864555504478172643140970282998855283243152916 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%0.000147 USDC (shortened; full value 0.0001478463249552 USDC)185.10 USDC (shortened; full value 185.1070801092806641495673586059 USDC)unreachablebook ends at 0 USDC
1%0.000197 USDC (shortened; full value 0.0001971284332736 USDC)341.15 USDC (shortened; full value 341.1595672808598942380849849626 USDC)unreachablebook ends at 0 USDC
10%0.001084 USDC (shortened; full value 0.0010842063830048 USDC)1,908.04 USDC (shortened; full value 1908.0464350365194089145270070693 USDC)unreachablebook ends at 0 USDC
100%0.009954 USDC (shortened; full value 0.0099549858803168 USDC)7,453.76 USDC (shortened; full value 7453.7676486465266543593515714066 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
63.6061 % (shortened; full value 63.60618073762578220055165328 %)
Top ten holders
93.1042 % (shortened; full value 93.10422200174522441771665347 %)
Concentration index
4,171.87 (shortened; full value 4171.8797538332223903962969698338622055208751509574122779)

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