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keel
Ledger
65,295,146
Methodology
1.0.8-draft
Age
6s

VAQM against USDC — what depth stands behind this price?

All assets

VAQM / USDC

GC2B…BVCD

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
6.33 USDC (shortened; full value 6.3313251752876855425240735047748500249980903596875 USDC)Limited by liquidation depth
Depth within 5%
buy803.05 USDC (shortened; full value 803.0530501609853829377637086153 USDC)sell3.12 USDC (shortened; full value 3.12066128303966662730013558355301303743591175865 USDC)
Cost to move +50%
787.72 USDC (shortened; full value 787.7233777068 USDC)Reachable through the order book
Checks
6 triggered3 not evaluated

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
6.89 USDC (shortened; full value 6.8912121694889276473429797363637543900005293684005 USDC)
Highest
8.86 USDC (shortened; full value 8.865312743643706859278496536570086802925248785316 USDC)
2026-11-03T03:54:29Z — 2026-11-04T02:54:29Z
Max safe collateral
6.89 USDC (shortened; full value 6.8969971042997630692968348660043339695551377301615 USDC)
24 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
Nothing tradable within 2%nowZERO_DEPTH_2PCT12 of 24

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.

Concentration and wash trading bound how much of the depth is real.

Largest holder
91.9648 % (shortened; full value 91.96482303738784424372484855 %)
Top ten holders
99.9999 % (shortened; full value 99.99990676133910638866281633 %)
Concentration index
8,521.58 (shortened; full value 8521.5802183166536462310994568221040181124120955388396627)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Volume to supply, 30 day
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Last genuine trade
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used