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keel
Ledger
65,275,885
Methodology
1.0.8-draft
Age
3s

TREAD against USDC — what depth stands behind this price?

All assets

TREAD / USDC

GANM…6VLM

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
2.98 USDC (shortened; full value 2.98984634689159813427995941522253378916346130209 USDC)Limited by liquidation depth
Depth within 5%
buy2.89 USDC (shortened; full value 2.8949441475118162143734188898 USDC)sell2.95 USDC (shortened; full value 2.950485804525840838751356222283576231295525140895 USDC)
Cost to move +50%
Not reachableThe order book cannot reach the target
Checks
3 triggered5 not evaluated

History

Window
Resolution
Source

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.

Lower at the end of the window than at its start

Lowest
1.16 USDC (shortened; full value 1.1664723445601660833041858362 USDC)
Highest
5.78 USDC (shortened; full value 5.7805605786798991418644157875 USDC)
2026-11-02T00:54:24Z — 2026-11-03T00:09:59ZOne scale across every line on this chart
2% from mid
1.16 USDC (shortened; full value 1.1664723445601660833041858362 USDC)
5% from mid
2.89 USDC (shortened; full value 2.8949441475118162143734188898 USDC)
10% from mid
5.72 USDC (shortened; full value 5.7217433121908117112278788518 USDC)
25 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

Not evaluated5

  • Price sources disagree
  • Extreme spread
  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

2.98 USDC (shortened; full value 2.98984634689159813427995941522253378916346130209 USDC)

Limited by liquidation depth

Liquidation termbinds
2.98 USDC (shortened; full value 2.98984634689159813427995941522253378916346130209 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.