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Keel
Ledger
64,491,937
Methodology
1.0.8-draft
Age
7s

VELO 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
0.00434751 USDC (shortened; full value 0.0043475102719482 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
179.71 USDC (shortened; full value 179.7145470353123118688036948528 USDC)
5% from mid
203.73 USDC (shortened; full value 203.7350550672039536938000679961 USDC)
10% from mid
217.42 USDC (shortened; full value 217.4280894566529942819389503177 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%
320.06 USDC (shortened; full value 320.0658368039910932306468 USDC)

Higher than at the start of the window

Collateral ceiling

Max safe collateral
11.19 USDC (shortened; full value 11.193580020773328793900617829576862618738862361374 USDC)

Lower than at the start of the window

2026-09-17T23:46:03Z — 2026-09-18T15:16:03Z

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
THIN_DEPTH_5PCTthroughout
ZERO_DEPTH_2PCT1 of 2

2 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.

12.57 USDC (shortened; full value 12.571537989647056206504353301710953359534961610085 USDC)

Limited by liquidation depth

Liquidation termbinds
12.57 USDC (shortened; full value 12.571537989647056206504353301710953359534961610085 USDC)

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

Manipulation term
80.89 USDC (shortened; full value 80.8911138009435086219536025 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
182.76 USDC (shortened; full value 182.7602183319014746539035329825 USDC)
Sell side
6.92 USDC (shortened; full value 6.926755285538786545755779587933446040900875033327 USDC)

5% from mid

Buy side
206.77 USDC (shortened; full value 206.7740284751188564015780579401 USDC)
Sell side
13.66 USDC (shortened; full value 13.667485583647883184487152808348808157090120315435 USDC)

10% from mid

Buy side
220.45 USDC (shortened; full value 220.4561089189627797548513432242 USDC)
Sell side
25.14 USDC (shortened; full value 25.14307597929411241300870660342190671906992322017 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%0.006507 USDC (shortened; full value 0.00650794449688125 USDC)423.21 USDC (shortened; full value 423.215170969390455017836532083 USDC)323.56 USDC (shortened; full value 323.56445520377403448781441 USDC)
1%0.008677 USDC (shortened; full value 0.008677259329175 USDC)13,455.35 USDC (shortened; full value 13455.3589644366892543025448994265 USDC)13,271.56 USDC (shortened; full value 13271.5661444100939383312234 USDC)
10%0.047724 USDC (shortened; full value 0.0477249263104625 USDC)73,693.28 USDC (shortened; full value 73693.2885029054081359943219550063 USDC)72,664.64 USDC (shortened; full value 72664.6443089503959968872052 USDC)
100%0.438201 USDC (shortened; full value 0.4382015961233375 USDC)1,006,581.95 USDC (shortened; full value 1006581.9501788490959812512187532342 USDC)1,002,563.10 USDC (shortened; full value 1002563.1027461284057768872052 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
not computed
Top ten holders
not computed
Concentration index
not computed

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