What depth stands behind this price?

RCW against USDC · GCEDS7…6CFYXG

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
High — this asset
Critical

Highpartial 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.

8.00 USDC (shortened; full value 8.006530157352208054970875907129501235550443956436 USDC)

Limited by liquidation depth

Liquidation termbinds: 8.00 USDC (shortened; full value 8.006530157352208054970875907129501235550443956436 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: 2.23573782 USDC (shortened; full value 2.2357378285788313 USDC)
Source: AMM pool spot
Spread: not computed
Undefined unless the price came from a two-sided book
Pool spot price: 2.23573782 USDC (shortened; full value 2.2357378285788313 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

3.12 USDC

Sell side

3.13 USDC

5% from mid

Buy side

7.75 USDC

Sell side

7.90 USDC

10% from mid

Buy side

15.32 USDC

Sell side

16.01 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%	3.353606 USDC (shortened; full value 3.35360674286824695 USDC)	70.55 USDC (shortened; full value 70.5529334842838349877304803363 USDC)	unreachablebook ends at 0 USDC
1%	4.471475 USDC (shortened; full value 4.4714756571576626 USDC)	130.03 USDC (shortened; full value 130.0318077713915727711205770894 USDC)	unreachablebook ends at 0 USDC
10%	24.593116 USDC (shortened; full value 24.5931161143671443 USDC)	727.24 USDC (shortened; full value 727.2454037770062094871134977524 USDC)	unreachablebook ends at 0 USDC
100%	225.809520 USDC (shortened; full value 225.8095206864619613 USDC)	2,840.97 USDC (shortened; full value 2840.9781668632077001728734162445 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(3)

HOLDER_CONCENTRATION_EXTREME
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: 96.4270 % (shortened; full value 96.42701591564272466907881962 %)
Top ten holders: 99.9893 % (shortened; full value 99.989351426069169195031564 %)
Concentration index: 9,300.80 (shortened; full value 9300.8047866062835720533468831205439247042539441594856286)
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: 18 of 162
High: 144 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_EXTREME

144 of 162

HOLDER_CONCENTRATION_HIGH

144 of 162

Price

Lowest: 2.09479608 USDC (shortened; full value 2.094796080038899 USDC)
Highest: 2.31800818 USDC (shortened; full value 2.3180081872071475 USDC)

2026-09-11T17:48:12Z — 2026-09-18T10:45:43Z

Mid price: 2.23573782 USDC (shortened; full value 2.2357378285788313 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: 3.02 USDC (shortened; full value 3.0232342568621843222068637339 USDC)
Highest: 15.59 USDC (shortened; full value 15.5960059296760802424596555498 USDC)

2026-09-11T17:48:12Z — 2026-09-18T10:45:43ZOne scale across every line on this chart

2% from mid: 3.12 USDC (shortened; full value 3.1237043382339811527380607031 USDC)
5% from mid: 7.75 USDC (shortened; full value 7.752390902964355351649520297 USDC)
10% from mid: 15.32 USDC (shortened; full value 15.3222958863126517880803072724 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: 7.74 USDC (shortened; full value 7.749010030825218300920172037471798498327554469806 USDC)
Highest: 8.14 USDC (shortened; full value 8.149554918968846735605735444384039379012907147432 USDC)

2026-09-11T17:48:12Z — 2026-09-18T10:45:43Z

Max safe collateral: 8.00 USDC (shortened; full value 8.006530157352208054970875907129501235550443956436 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: 64,488,694
Closed at 2026-09-18T11:00:48Z
Computed at: 2026-09-18T11:00:55.054773Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against