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keel
Ledger
65,276,604
Methodology
1.0.8-draft
Age
8s

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 2.986429670183966491881855461469873903923322853092 USDC)Limited by liquidation depth
Depth within 5%
buy2.89 USDC (shortened; full value 2.8916359212382548788045900564 USDC)sell2.94 USDC (shortened; full value 2.947114107470237350324342530410117348697348412726 USDC)
Cost to move +50%
Not reachableThe order book cannot reach the target
Checks
3 triggered5 not evaluated

History

Window
Resolution
Source

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Lower at the end of the window than at its start

Lowest
2.98 USDC (shortened; full value 2.986429670183966491881855461469873903923322853092 USDC)
Highest
3.02 USDC (shortened; full value 3.020580789132631539259565734798210672141502856966 USDC)
2026-11-02T01:54:19Z — 2026-11-03T01:09:19Z
Max safe collateral
2.98 USDC (shortened; full value 2.986429670183966491881855461469873903923322853092 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.

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only
0 USDC

NOT reachable through the order book: this is the cost of exhausting the book, not of reaching the target

Genuine volume in the oracle window
0 USDC

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
not computed

Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable

Total attack cost
not computed

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh