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Keel
Ledger
64,491,756
Methodology
1.0.8-draft
Age
3s

TFT against USDC — what depth stands behind this price?

How has this moved over time?

Price

Mid price
0.00684917 USDC (shortened; full value 0.00684917917584055 USDC)

Unchanged across 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
76.09 USDC (shortened; full value 76.0908135687785674844824096252 USDC)
5% from mid
191.07 USDC (shortened; full value 191.0740465412656562973388003241 USDC)
10% from mid
451.13 USDC (shortened; full value 451.1307441909386363311226821812 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%
72.00 USDC (shortened; full value 72.0093680006345 USDC)

Unchanged across the window

Collateral ceiling

Max safe collateral
18.00 USDC (shortened; full value 18.002342000158625 USDC)

Unchanged across the window

2026-09-17T23:45:53Z2026-09-18T15:00:53Z

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_2PCT1 of 2

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.

18.00 USDC (shortened; full value 18.002342000158625 USDC)

Limited by manipulation cost

Liquidation term
197.94 USDC (shortened; full value 197.94889555591002642597929425027139268652832288255 USDC)

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

Manipulation termbinds
18.00 USDC (shortened; full value 18.002342000158625 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
81.66 USDC (shortened; full value 81.6618347712624878372963671644 USDC)
Sell side
73.86 USDC (shortened; full value 73.86767430663276304703155983381250480002922880578 USDC)

5% from mid

Buy side
196.64 USDC (shortened; full value 196.6451911707423437753906492777 USDC)
Sell side
192.23 USDC (shortened; full value 192.23546210272615599289607693342058393161802957564 USDC)

10% from mid

Buy side
456.70 USDC (shortened; full value 456.7020906769451538822996489514 USDC)
Sell side
395.89 USDC (shortened; full value 395.8977911118200528519585885005427853730566457651 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%0.010273 USDC (shortened; full value 0.010273768763760825 USDC)1,828.71 USDC (shortened; full value 1828.7120546888336694403587724684 USDC)72.00 USDC (shortened; full value 72.0093680006345 USDC)
1%0.013698 USDC (shortened; full value 0.0136983583516811 USDC)3,306.25 USDC (shortened; full value 3306.2544427404970694434908686356 USDC)72.00 USDC (shortened; full value 72.0093680006345 USDC)
10%0.075340 USDC (shortened; full value 0.07534097093424605 USDC)20,040.42 USDC (shortened; full value 20040.427008611377433895176628035 USDC)1,970.52 USDC (shortened; full value 1970.52114850385323 USDC)
100%0.691767 USDC (shortened; full value 0.69176709675989555 USDC)154,395.29 USDC (shortened; full value 154395.2924193853292265405448074263 USDC)83,817.16 USDC (shortened; full value 83817.16760076303789 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