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Keel
Ledger
64,492,835
Methodology
1.0.8-draft
Age
5s

SHX 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
0.00356450 USDC (shortened; full value 0.00356450004490935 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
414.44 USDC (shortened; full value 414.4484768777438067349441604559 USDC)
5% from mid
642.90 USDC (shortened; full value 642.900022387367421956236079027 USDC)
10% from mid
1,353.96 USDC (shortened; full value 1353.9608053936047199333404315722 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%
1,459.73 USDC (shortened; full value 1459.73190000484162936941087 USDC)

Lower than at the start of the window

Collateral ceiling

Max safe collateral
364.93 USDC (shortened; full value 364.9329750012104073423527175 USDC)

Lower than at the start of the window

2026-09-11T17:48:12Z — 2026-09-18T16:30:53Z

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
ZERO_DEPTH_2PCT100 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

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.

364.93 USDC (shortened; full value 364.9329750012104073423527175 USDC)

Limited by manipulation cost

Liquidation term
615.58 USDC (shortened; full value 615.5844126780258018982484923178212477246540358951095 USDC)

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

Manipulation termbinds
364.93 USDC (shortened; full value 364.9329750012104073423527175 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
407.29 USDC (shortened; full value 407.2908803130887983427438453957 USDC)
Sell side
0 USDC

5% from mid

Buy side
635.74 USDC (shortened; full value 635.7425941193250530532844676002 USDC)
Sell side
138.36 USDC (shortened; full value 138.362948010228071683576585530695159962434548871369 USDC)

10% from mid

Buy side
1,346.80 USDC (shortened; full value 1346.8036523633320474796364944075 USDC)
Sell side
1,231.16 USDC (shortened; full value 1231.168825356051603796496984635642495449308071790219 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 0.005346750067364025 USDC)5,195.03 USDC (shortened; full value 5195.0344621687241576792081179437 USDC)1,459.73 USDC (shortened; full value 1459.73190000484162936941087 USDC)
1%0.007129 USDC (shortened; full value 0.0071290000898187 USDC)8,630.62 USDC (shortened; full value 8630.6211256603951067050165435412 USDC)1,959.70 USDC (shortened; full value 1959.70160690810304857077703 USDC)
10%0.039209 USDC (shortened; full value 0.03920950049400285 USDC)115,993.35 USDC (shortened; full value 115993.350976086646803574874599049 USDC)79,846.58 USDC (shortened; full value 79846.58175183256865268686024 USDC)
100%0.360014 USDC (shortened; full value 0.36001450453584435 USDC)525,284.00 USDC (shortened; full value 525284.0091893631931255061717648798 USDC)unreachablebook ends at 384,812.64 USDC (shortened; full value 384812.64042645737926268686024 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