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Keel
Ledger
64,492,658
Methodology
1.0.8-draft
Age
3s

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
0.00429017 USDC (shortened; full value 0.00429017360049845 USDC)

Lower 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
182.51 USDC (shortened; full value 182.5192534594900434635070604072 USDC)
5% from mid
205.05 USDC (shortened; full value 205.0546810322402980333986490308 USDC)
10% from mid
218.67 USDC (shortened; full value 218.6768763980924443372636981733 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%
304.11 USDC (shortened; full value 304.11768400339890779719647 USDC)

Lower than at the start of the window

Collateral ceiling

Max safe collateral
68.16 USDC (shortened; full value 68.1699561702301211962433246995514068385685132379915 USDC)

Lower than at the start of the window

2026-09-11T23:48:28Z — 2026-09-18T16:16:03Z

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_2PCT3 of 8

8 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.

19.57 USDC (shortened; full value 19.578146897984530283374558617408716004643195448637 USDC)

Limited by liquidation depth

Liquidation termbinds
19.57 USDC (shortened; full value 19.578146897984530283374558617408716004643195448637 USDC)

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

Manipulation term
75.16 USDC (shortened; full value 75.167773900917150380777015 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
179.75 USDC (shortened; full value 179.753485027878559915138625613 USDC)
Sell side
21.01 USDC (shortened; full value 21.014189818159366999378086876599162730176597997159 USDC)

5% from mid

Buy side
202.29 USDC (shortened; full value 202.2988521040259460896624101392 USDC)
Sell side
27.72 USDC (shortened; full value 27.727457113491378270816914691515594805845094855903 USDC)

10% from mid

Buy side
215.93 USDC (shortened; full value 215.9373028579338046358299762848 USDC)
Sell side
39.15 USDC (shortened; full value 39.156293795969060566749117234817432009286390897274 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%0.006454 USDC (shortened; full value 0.006454922016280875 USDC)400.41 USDC (shortened; full value 400.4178662693360806951328138654 USDC)300.67 USDC (shortened; full value 300.67109560366860152310806 USDC)
1%0.008606 USDC (shortened; full value 0.0086065626883745 USDC)13,424.80 USDC (shortened; full value 13424.8040876804387818102050975495 USDC)13,241.25 USDC (shortened; full value 13241.2580235088284441572752 USDC)
10%0.047336 USDC (shortened; full value 0.04733609478605975 USDC)73,789.23 USDC (shortened; full value 73789.2396004872301597311293672531 USDC)72,764.28 USDC (shortened; full value 72764.28424575240293080919479 USDC)
100%0.434631 USDC (shortened; full value 0.43463141576291225 USDC)1,006,665.71 USDC (shortened; full value 1006665.7186261514211838979207106604 USDC)1,002,662.74 USDC (shortened; full value 1002662.74268293041271080919479 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