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keel
Ledger
65,275,155
Methodology
1.0.8-draft
Age
6s

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 0.0021474065803042468838245907 USDC)sell0.0021 USDC (shortened; full value 0.00218860617299947389373387184338397396945315384 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
0.00091 USDC (shortened; full value 0.0009144523796345247179481999 USDC)
Highest
0.01 USDC (shortened; full value 0.0167001114030636607376116987 USDC)
2026-10-03T23:53:32Z — 2026-10-24T19:08:33ZOne scale across every line on this chart
2% from mid
0.00097 USDC (shortened; full value 0.0009796016661085604507636637 USDC)
5% from mid
0.0024 USDC (shortened; full value 0.0024311696058796080671602841 USDC)
10% from mid
0.0048 USDC (shortened; full value 0.0048051111608488953566845974 USDC)
501 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGH429 of 501
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME405 of 501

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