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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

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
0 USDC
Highest
21.92 USDC (shortened; full value 21.9229038464227616443870253864 USDC)
2026-10-05T01:54:27Z — 2026-10-25T20:54:23ZOne scale across every line on this chart
2% from mid
4.31 USDC (shortened; full value 4.3177396195854453063894890128 USDC)
5% from mid
10.71 USDC (shortened; full value 10.7157405835557350946274080473 USDC)
10% from mid
21.17 USDC (shortened; full value 21.1792400457292189655634534213 USDC)
500 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
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT418 of 500
Extreme spreadnowSPREAD_EXTREME418 of 500
Nothing tradable within 2%ZERO_DEPTH_2PCT82 of 500

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.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
4.29 USDC (shortened; full value 4.29054215135838111282612188 USDC)
Sell side
4.30 USDC (shortened; full value 4.307703433355376447624342317098621001570595728 USDC)

5% from mid

Buy side
10.64 USDC (shortened; full value 10.6482420681916471481087947139 USDC)
Sell side
10.85 USDC (shortened; full value 10.852536513479004694441633308180412361390089859168 USDC)

10% from mid

Buy side
21.04 USDC (shortened; full value 21.0458318833647661015383832561 USDC)
Sell side
35.41 USDC (shortened; full value 35.417344111715998622741882121061958326892821059712 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.