THE1 against USDC — what depth stands behind this price?
How has this moved over time?
Price
- Mid price
- 3.83977594 USDC (shortened; full value 3.8397759454222753 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
- 36.97 USDC (shortened; full value 36.9775427907808817268284530448 USDC)
- 5% from mid
- 91.77 USDC (shortened; full value 91.7706464201709882245689791511 USDC)
- 10% from mid
- 181.38 USDC (shortened; full value 181.3810753003129467751674540505 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.
No point in this range carried a value.
Not enough readings in this window to show a direction.
Collateral ceiling
- Max safe collateral
- 94.77 USDC (shortened; full value 94.779076199814254649911262201595540112556748079718 USDC)
Lower than at the start of the window
2026-09-11T23:48:17Z — 2026-09-18T15:15:58Z
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_5PCTHOLDER_CONCENTRATION_EXTREMEHOLDER_CONCENTRATION_HIGH8 readings from horizon, with no gaps reported. One source per chart.
How much can this asset safely back?
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.
94.77 USDC (shortened; full value 94.773740211308373557812966919597092793162267269734 USDC)
Limited by liquidation depth
- Liquidation termbinds
- 94.77 USDC (shortened; full value 94.773740211308373557812966919597092793162267269734 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?
- SDEX
- AMM
- Sell side, composition not reported
2% from mid
5% from mid
10% from mid
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?
| Move | Target price | Cost, all venues | Cost, order book only |
|---|---|---|---|
| 0.5% | 5.759013 USDC (shortened; full value 5.759013507066909 USDC) | 835.13 USDC (shortened; full value 835.138975033413243109547155282 USDC) | unreachablebook ends at 0 USDC |
| 1% | 7.678684 USDC (shortened; full value 7.678684676089212 USDC) | 1,539.19 USDC (shortened; full value 1539.1936989853440888017806615487 USDC) | unreachablebook ends at 0 USDC |
| 10% | 42.232765 USDC (shortened; full value 42.232765718490666 USDC) | 8,608.44 USDC (shortened; full value 8608.4440591457681794171075693717 USDC) | unreachablebook ends at 0 USDC |
| 100% | 387.773576 USDC (shortened; full value 387.773576142505206 USDC) | 33,628.81 USDC (shortened; full value 33628.8156593086317829957342413622 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?
- Largest holder
- 50.8701 % (shortened; full value 50.87015953650622029064173658 %)
- Top ten holders
- 100 %
- Concentration index
- 4,614.60 (shortened; full value 4614.6032323937758123821504633556862164924815395410444597)
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