What depth stands behind this price?

eBTC against USDC · GCEAHW…UEEBTC

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.

Low
Medium
High
Critical — this asset

Criticalpartial 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: 40.64 USDC (shortened; full value 40.646153622714945823590086092907870060431306518504 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.

These bands come from thresholds that were chosen, not calibrated

The thresholds were chosen based on the magnitude of the Blend incident of February 2026 and on conservative judgement, not calibrated against a set of incidents. Every flag is reported separately so that consumers can apply their own thresholds.

Every threshold, as the engine serves it

Where this number comes from

Source: GET /asset/{assetId}/depth → maxSafeCollateral, maxSafeCollateralLiquidation, maxSafeCollateralManipulation
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What this computation could not do

maxReachablePrice and costToMaxReachablePrice are null because an active pool is present: under a constant product curve the price tends to infinity as the base reserve tends to zero, so every target is reachable and a highest price has no meaning

Served by the engine with this response and shown as written.

Where does the price come from?

Two venues can disagree. Both readings are shown, not only the one that won.

Mid price: 0.00171871 USDC (shortened; full value 0.0017187133181298 USDC)
Source: AMM pool spot
Spread: not computed
Undefined unless the price came from a two-sided book
Pool spot price: 0.00171871 USDC (shortened; full value 0.0017187133181298 USDC)
Reported whenever an active pool exists, whichever source won
Divergence between the two: not computed
Null means there is no pool to diverge from, not that the sources agree

Where this number comes from

Source: GET /asset/{assetId}/depth → midPrice, priceSource, spreadPct, poolSpotPrice, priceDivergencePct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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

15.85 USDC

Sell side

15.92 USDC

5% from mid

Buy side

39.35 USDC

Sell side

40.11 USDC

10% from mid

Buy side

77.78 USDC

Sell side

81.29 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.

Where this number comes from

Source: GET /asset/{assetId}/depth → depth[]
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

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.
Move	Target price	Cost, all venues	Cost, order book only
0.5%	0.002578 USDC (shortened; full value 0.0025780699771947 USDC)	358.17 USDC (shortened; full value 358.1708076503082558974924831001 USDC)	free to reach
1%	0.003437 USDC (shortened; full value 0.0034374266362596 USDC)	660.12 USDC (shortened; full value 660.122766122595704347029873915 USDC)	free to reach
10%	0.018905 USDC (shortened; full value 0.0189058464994278 USDC)	3,691.95 USDC (shortened; full value 3691.9524216354261968649894459045 USDC)	free to reach
100%	0.173590 USDC (shortened; full value 0.1735900451311098 USDC)	14,422.58 USDC (shortened; full value 14422.5816601793742649908555318129 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.

How far the book actually goes

Furthest price the book reaches: not computed
Null by structure, not by failure: an active pool means every target is reachable and a highest price has no meaning
Cost to walk it that far: not computed
Null for the same reason as the price above

Against genuine volume

Not reported for this asset. Without it there is no comparison between the cost of an attack and the genuine trading it would have to hide inside.

Where this number comes from

Source: GET /asset/{assetId}/depth → manipulationCostCombined[], manipulationCostOrderbookOnly[], oracleResistance
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Which checks fired, and which could not run?

An unevaluated check is not a check that came back clear. The two never share a treatment.

Triggered(5)

MANIPULATION_CHEAP
MANIPULATION_RATIO_LOW
HOLDER_CONCENTRATION_EXTREME
THIN_DEPTH_5PCT
HOLDER_CONCENTRATION_HIGH

Could not be evaluated(5)

PRICE_SOURCE_CONFLICT
SPREAD_EXTREME
NO_GENUINE_TRADE_30D
NO_GENUINE_TRADE_7D
WASH_TRADE_SUSPECTED

Where this number comes from

Source: GET /asset/{assetId}/depth → flags[], unevaluatedFlags[], bandConfidence
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

Who holds it, and is it genuinely traded?

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

Largest holder: 94.4231 % (shortened; full value 94.42318753797337025766758876 %)
Top ten holders: 98.4769 % (shortened; full value 98.47692218034962546402293913 %)
Concentration index: 8,919.82 (shortened; full value 8919.8239599059055753937171636075255937486548760191464746)
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

Where this number comes from

Source: GET /asset/{assetId}/depth → holderTop1Pct, holderTop10Pct, holderHhi, volumeToSupply, lastGenuineTrade, tradesExcludedPct
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

How has this moved over time?

A single reading cannot separate a thin asset from one that just got thin. This is a stored series, not the historical replay that health reports as unavailable — those are different endpoints.

WindowLast 24 hours Last 7 days Last 30 days

ResolutionHourly Daily

SourceHorizon Hubble Offers implied Trades implied

8 readings from horizon, with no gaps reported. One source per chart.

Band at each reading

Critical: 8 of 8

Which checks were firing

Whether a finding has been there all along or started recently. Only checks that fired at least once appear.

MANIPULATION_CHEAP

throughout

THIN_DEPTH_5PCT

throughout

MANIPULATION_RATIO_LOW

7 of 8

HOLDER_CONCENTRATION_EXTREME

7 of 8

HOLDER_CONCENTRATION_HIGH

7 of 8

Price

Lowest: 0.00170988 USDC (shortened; full value 0.0017098833238931 USDC)
Highest: 0.00181045 USDC (shortened; full value 0.0018104561959635 USDC)

2026-09-11T23:47:54Z — 2026-09-18T12:30:33Z

Mid price: 0.00171871 USDC (shortened; full value 0.0017187133181298 USDC)

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, and the lines darken as the rung widens.

Lowest: 15.81 USDC (shortened; full value 15.816895054664425389598469669 USDC)
Highest: 79.81 USDC (shortened; full value 79.8135170961102162360953139015 USDC)

2026-09-11T23:47:54Z — 2026-09-18T12:30:33ZOne scale across every line on this chart

2% from mid: 15.85 USDC (shortened; full value 15.857876496875380925223140273 USDC)
5% from mid: 39.35 USDC (shortened; full value 39.3559838522401168779103224329 USDC)
10% from mid: 77.78 USDC (shortened; full value 77.7855550666803794688274333843 USDC)

Cost to move the price by half

The series carries one manipulation rung, at the half per cent delta the engine treats as critical. A reading the engine could not produce breaks the line rather than sitting at zero.

Lowest: 0 USDC
Highest: 0 USDC

2026-09-11T23:47:54Z — 2026-09-18T12:30:33Z

Manipulation cost, 0.5%: 0 USDC

Collateral ceiling

Lowest: 0 USDC
Highest: 0 USDC

2026-09-11T23:47:54Z — 2026-09-18T12:30:33Z

Max safe collateral: 0 USDC

Where this number comes from

Source: GET /asset/{assetId}/history → points[], gaps[], dataSource
What it is: Awaiting methodology copy.
What it does not account for: Awaiting methodology copy.

What was this computed from?

Ledger: 64,489,951
Closed at 2026-09-18T12:45:33Z
Computed at: 2026-09-18T12:45:40.34321Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against