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Keel
Ledger
64,492,836
Methodology
1.0.8-draft
Age
7s

UAF 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
0.00000063 USDC (shortened; full value 0.0000006392092202 USDC)

Higher 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
6.28 USDC (shortened; full value 6.2859218033696908948753910941 USDC)
5% from mid
15.60 USDC (shortened; full value 15.6003634558893697520525306016 USDC)
10% from mid
30.83 USDC (shortened; full value 30.8335051466192769201950255623 USDC)

Higher 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%
0 USDC

Unchanged across the window

Collateral ceiling

Max safe collateral
0 USDC

Unchanged across the window

2026-09-17T16:45:58Z — 2026-09-18T16:30:58Z

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
MANIPULATION_RATIO_LOWthroughout
PRICE_SOURCE_CONFLICTthroughout
SPREAD_EXTREMEthroughout
THIN_DEPTH_5PCTthroughout

25 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.

0 USDC

Limited by manipulation cost

Liquidation term
16.07 USDC (shortened; full value 16.071042217882560100101994676986466571245537705216 USDC)

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

Manipulation termbinds
0 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
6.27 USDC (shortened; full value 6.2700292408964695020840394842 USDC)
Sell side
6.29 USDC (shortened; full value 6.295111962205418607748296455472950434411481408 USDC)

5% from mid

Buy side
15.56 USDC (shortened; full value 15.5609213885867230310087054422 USDC)
Sell side
15.85 USDC (shortened; full value 15.859473141169621906215735456849671450089519461248 USDC)

10% from mid

Buy side
30.75 USDC (shortened; full value 30.7555494509966629702046436997 USDC)
Sell side
32.14 USDC (shortened; full value 32.142084435765120200203989353972933142491075410432 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%0.00000095 USDC (shortened; full value 0.0000009539644008 USDC)141.61 USDC (shortened; full value 141.6167818967083116777305900309 USDC)free to reach
1%0.000001 USDC (shortened; full value 0.0000012719525344 USDC)261.00 USDC (shortened; full value 261.005251679547284053409236945 USDC)free to reach
10%0.000006 USDC (shortened; full value 0.0000069957389392 USDC)1,459.75 USDC (shortened; full value 1459.757215552400024278480138123 USDC)free to reach
100%0.000064 USDC (shortened; full value 0.0000642336029872 USDC)5,702.53 USDC (shortened; full value 5702.5310465009552190270522265789 USDC)0.0015 USDC (shortened; full value 0.00153340000142 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
20.0865 % (shortened; full value 20.08651287557527286301701522 %)
Top ten holders
77.4484 % (shortened; full value 77.44847867674813781179125532 %)
Concentration index
945.03 (shortened; full value 945.03452430255367281728352684934825174845478267937058)

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