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: 40.68 USDC (shortened; full value 40.687332267954671129721680335488279131064037298646 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: 0.00172220 USDC (shortened; full value 0.0017222027883899 USDC)
Source: AMM pool spot
Spread: not computed
Undefined unless the price came from a two-sided book
Pool spot price: 0.00172220 USDC (shortened; full value 0.0017222027883899 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

15.87 USDC

Sell side

15.93 USDC

5% from mid

Buy side

39.39 USDC

Sell side

40.15 USDC

10% from mid

Buy side

77.86 USDC

Sell side

81.37 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%	0.002583 USDC (shortened; full value 0.00258330418258485 USDC)	358.53 USDC (shortened; full value 358.5336707335008441143869348166 USDC)	free to reach
1%	0.003444 USDC (shortened; full value 0.0034444055767798 USDC)	660.79 USDC (shortened; full value 660.7915369355278641663750685784 USDC)	free to reach
10%	0.018944 USDC (shortened; full value 0.0189442306722889 USDC)	3,695.69 USDC (shortened; full value 3695.6927410866499605223400092885 USDC)	free to reach
100%	0.173942 USDC (shortened; full value 0.1739424816273799 USDC)	14,437.19 USDC (shortened; full value 14437.1931872413985261809921078804 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

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

Band at each reading

Critical: 162 of 162

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

144 of 162

HOLDER_CONCENTRATION_EXTREME

144 of 162

HOLDER_CONCENTRATION_HIGH

144 of 162

Price

Lowest: 0.00167700 USDC (shortened; full value 0.0016770023200431 USDC)
Highest: 0.00182404 USDC (shortened; full value 0.0018240415657404 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:28Z

Mid price: 0.00172220 USDC (shortened; full value 0.001722200235947 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: 15.66 USDC (shortened; full value 15.662936438999149455727976814 USDC)
Highest: 80.11 USDC (shortened; full value 80.1118811446909734725979888647 USDC)

2026-09-11T17:47:56Z — 2026-09-18T10:45:28ZOne scale across every line on this chart

2% from mid: 15.87 USDC (shortened; full value 15.8739303411844040740135652674 USDC)
5% from mid: 39.39 USDC (shortened; full value 39.3958261878464500501029114179 USDC)
10% from mid: 77.86 USDC (shortened; full value 77.8643018768713585291177876546 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

2026-09-11T17:47:56Z — 2026-09-18T10:45:28Z

Manipulation cost, 0.5%: 0 USDC

Collateral ceiling

Lowest: 0 USDC
Highest: 0 USDC

2026-09-11T17:47:56Z — 2026-09-18T10:45:28Z

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: 64,488,691
Closed at 2026-09-18T11:00:33Z
Computed at: 2026-09-18T11:00:40.097342Z
Data source: horizon
Methodology: 1.0.8-draft
The version that produced these figures, not the one this page was built against