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Keel
Ledger
64,492,838
Methodology
1.0.8-draft
Age
4s

XAG 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
0.00014950 USDC (shortened; full value 0.0001495091023156 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
7.32 USDC (shortened; full value 7.3210470893503729174111936823 USDC)
5% from mid
18.16 USDC (shortened; full value 18.1693312523108011141877659699 USDC)
10% from mid
35.91 USDC (shortened; full value 35.9109690144598896101340207039 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%
0 USDC

Unchanged across the window

Collateral ceiling

Max safe collateral
0 USDC

Unchanged across the window

2026-09-17T16:46:08Z — 2026-09-18T16:31:08Z

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
MANIPULATION_RATIO_LOWthroughout
PRICE_SOURCE_CONFLICTthroughout
SPREAD_EXTREMEthroughout
HOLDER_CONCENTRATION_EXTREMEthroughout
THIN_DEPTH_5PCTthroughout
HOLDER_CONCENTRATION_HIGHthroughout

25 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.

0 USDC

Limited by manipulation cost

Liquidation term
18.76 USDC (shortened; full value 18.764387612499722049273835805164248341727792466572 USDC)

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

Manipulation termbinds
0 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
7.32 USDC (shortened; full value 7.3208240875056117906727627737 USDC)
Sell side
7.35 USDC (shortened; full value 7.350105971062103371445750765112535998682846011 USDC)

5% from mid

Buy side
18.16 USDC (shortened; full value 18.1687778076548808864731368258 USDC)
Sell side
18.51 USDC (shortened; full value 18.517359425617541594006709891110881102833955383666 USDC)

10% from mid

Buy side
35.90 USDC (shortened; full value 35.9098751528524382067731156506 USDC)
Sell side
37.52 USDC (shortened; full value 37.528775224999444098547671610328496683455584933144 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%0.000224 USDC (shortened; full value 0.00022424997081525 USDC)165.35 USDC (shortened; full value 165.3503529684048682733951933195 USDC)free to reach
1%0.000298 USDC (shortened; full value 0.000298999961087 USDC)304.74 USDC (shortened; full value 304.7471487051466717512607305149 USDC)free to reach
10%0.001644 USDC (shortened; full value 0.0016444997859785 USDC)1,704.39 USDC (shortened; full value 1704.3980777349916588267992389069 USDC)free to reach
100%0.015099 USDC (shortened; full value 0.0150994980348935 USDC)6,658.21 USDC (shortened; full value 6658.2170218479271868166223813585 USDC)free to reach

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
89.0741 % (shortened; full value 89.07413303082708356530243253 %)
Top ten holders
98.5935 % (shortened; full value 98.59350391178447912611475057 %)
Concentration index
7,981.70 (shortened; full value 7981.7021001826631229899811217928966564672062866967130639)

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