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Keel
Ledger
64,491,935
Methodology
1.0.8-draft
Age
4s

SHX against USDC — what depth stands behind this price?

How has this moved over time?

Price

Mid price
0.00331000 USDC (shortened; full value 0.00331000488537005 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
0.000010 USDC (shortened; full value 0.000010900089 USDC)
5% from mid
74.76 USDC (shortened; full value 74.7686024141901404258924625504 USDC)
10% from mid
434.79 USDC (shortened; full value 434.7996978396729119694413126262 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.

Manipulation cost, 0.5%
1,432.49 USDC (shortened; full value 1432.49283440408323189589147 USDC)

Higher than at the start of the window

Collateral ceiling

Max safe collateral
358.12 USDC (shortened; full value 358.1232086010208079739728675 USDC)

Higher than at the start of the window

2026-09-17T23:45:53Z2026-09-18T15:15:48Z

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

MANIPULATION_CHEAPthroughout
THIN_DEPTH_5PCTthroughout

2 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

Critical

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.

366.52 USDC (shortened; full value 366.5253437761924329739728675 USDC)

Limited by manipulation cost

Liquidation term
615.73 USDC (shortened; full value 615.735581741020562291187570854054428968757060536403 USDC)

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

Manipulation termbinds
366.52 USDC (shortened; full value 366.5253437761924329739728675 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.

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
406.98 USDC (shortened; full value 406.9837610498549365650656489419 USDC)
Sell side
0 USDC

5% from mid

Buy side
635.43 USDC (shortened; full value 635.4347627390396996837172152293 USDC)
Sell side
138.66 USDC (shortened; full value 138.666534046092129362893545148746853282099373132567 USDC)

10% from mid

Buy side
1,347.39 USDC (shortened; full value 1347.3939622635980108272209295531 USDC)
Sell side
1,231.47 USDC (shortened; full value 1231.471163482041124582375141708108857937514121072806 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%0.005346 USDC (shortened; full value 0.00534675 USDC)5,201.08 USDC (shortened; full value 5201.0864441114049823344908647896 USDC)1,466.10 USDC (shortened; full value 1466.10137510476973189589147 USDC)
1%0.007129 USDC8,639.78 USDC (shortened; full value 8639.7899980606561178761849799415 USDC)1,969.19 USDC (shortened; full value 1969.19712320848213761471923 USDC)
10%0.039209 USDC (shortened; full value 0.0392095 USDC)111,345.18 USDC (shortened; full value 111345.1850582936168706907274244751 USDC)75,198.83 USDC (shortened; full value 75198.83435842867906146422706 USDC)
100%0.360014 USDC (shortened; full value 0.3600145 USDC)476,650.33 USDC (shortened; full value 476650.3320236949311793550209184909 USDC)unreachablebook ends at 336,179.70 USDC (shortened; full value 336179.70698005197402146422706 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
not computed
Top ten holders
not computed
Concentration index
not computed

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