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keel
Ledger
65,274,435
Methodology
1.0.8-draft
Age
7s

eBTC against USDC — what depth stands behind this price?

All assets

eBTC / USDC

GCEA…EBTC

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0 USDCLimited by manipulation cost
Depth within 5%
buy0.0021 USDC (shortened; full value 0.0021622979344160734182270469 USDC)sell0.0022 USDC (shortened; full value 0.002203783228817588728384983818010743891369219588 USDC)
Cost to move +50%
0 USDCReachable at no cost: nothing stands in the way
Checks
5 triggered5 not evaluated

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.

Lower at the end of the window than at its start

Lowest
0.00087 USDC (shortened; full value 0.0008712640426461375637265971 USDC)
Highest
0.0044 USDC (shortened; full value 0.0044687658143411629710776944 USDC)
2026-10-26T22:53:33Z — 2026-11-02T22:08:34ZOne scale across every line on this chart
2% from mid
0.00087 USDC (shortened; full value 0.0008712640426461375637265971 USDC)
5% from mid
0.0021 USDC (shortened; full value 0.0021622979344160734182270469 USDC)
10% from mid
0.0042 USDC (shortened; full value 0.0042736968710926315225900859 USDC)
169 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

Not evaluated5

  • Price sources disagree
  • Extreme spread
  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

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

Largest holder
63.3733 % (shortened; full value 63.37337402372035292530322089 %)
Top ten holders
90.7787 % (shortened; full value 90.77879068685182057559696835 %)
Concentration index
4,124.64 (shortened; full value 4124.6466392387377987845555576177090529424113164615126517)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Volume to supply, 30 day
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Last genuine trade
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used