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keel
Ledger
65,293,705
Methodology
1.0.8-draft
Age
7s

USDT against USDC — what depth stands behind this price?

All assets

USDT / USDC

GCQT…TG6V

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0 USDCLimited by manipulation cost
Depth within 5%
buy10.64 USDC (shortened; full value 10.6482420681916471481087947139 USDC)sell10.85 USDC (shortened; full value 10.852536513479004694441633308180412361390089859168 USDC)
Cost to move +50%
0 USDCReachable at no cost: nothing stands in the way
Checks
7 triggered3 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
4.28 USDC (shortened; full value 4.2860764006640399933405227115 USDC)
Highest
21.48 USDC (shortened; full value 21.4868709608267329948958674304 USDC)
2026-10-28T01:54:23Z — 2026-11-04T00:54:24ZOne scale across every line on this chart
2% from mid
4.29 USDC (shortened; full value 4.2917524707436587962505968168 USDC)
5% from mid
10.65 USDC (shortened; full value 10.6512458316647973716047334084 USDC)
10% from mid
21.05 USDC (shortened; full value 21.0517687037965772770473260589 USDC)
168 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.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

Not evaluated3

  • 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.

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
+50%0.164375 USDC (shortened; full value 0.1643752466618574 USDC)96.90 USDC (shortened; full value 96.9074861891200547900744322583 USDC)free to reach
+100%0.219166 USDC (shortened; full value 0.2191669955491432 USDC)210.60 USDC (shortened; full value 210.6042759745186546786766053755 USDC)31.99 USDC (shortened; full value 31.99999981696644 USDC)
+1,000%1.205418 USDC (shortened; full value 1.2054184755202876 USDC)15,059.71 USDC (shortened; full value 15059.716579225448621344933665014 USDC)14,060.81 USDC (shortened; full value 14060.81376339398233 USDC)
+10,000%11.067933 USDC (shortened; full value 11.0679332752317316 USDC)17,963.01 USDC (shortened; full value 17963.0193680725690522530388558424 USDC)14,060.81 USDC (shortened; full value 14060.81376339398233 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.

Highest price the book can reach
not computed

Absorbing every ask. Not computed when an active pool exists, because a constant product curve has no highest price

Cost to reach it
not computed

Every ask below that price. Catches an attack that lands between two rungs of the ladder