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keel
Ledger
65,294,426
Methodology
1.0.8-draft
Age
9s

VELO against USDC — what depth stands behind this price?

All assets

VELO / USDC

GDM4…2M5M

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
68.75 USDC (shortened; full value 68.7561885506092140949071925 USDC)Limited by manipulation cost
Depth within 5%
buy187.21 USDC (shortened; full value 187.2143690647001477825708551913 USDC)sell123.32 USDC (shortened; full value 123.329156878327458212248360576860335519717177163526 USDC)
Cost to move +50%
275.02 USDC (shortened; full value 275.02475420243685637962877 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Higher at the end of the window than at its start

Lowest
93.45 USDC (shortened; full value 93.45453790218017214320994 USDC)
Highest
799.60 USDC (shortened; full value 799.60439620403403069027387 USDC)
2026-10-28T02:54:28Z — 2026-11-04T01:54:29Z
Cost to move +50%
275.48 USDC (shortened; full value 275.48036870248485399402741 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Nothing tradable within 2%ZERO_DEPTH_2PCT57 of 168

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.

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
275.02 USDC (shortened; full value 275.02475420243685637962877 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
139.82 USDC (shortened; full value 139.8237093 USDC)

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

Cost against genuine volume
1.9669 (shortened; full value 1.9669393379656024929931448328)

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
414.84 USDC (shortened; full value 414.84846350243685637962877 USDC)

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