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keel
Ledger
64,752,845
Methodology
1.0.8-draft
Age
5s

AQUA against USDC — what depth stands behind this price?

All assets

AQUA / USDC

GBNZ…AQUA

Risk band

Medium

partial confidence

A floor: the real band can only be worse.

Max safe collateral
8,090.15 USDC (shortened; full value 8090.15675794997901203997818 USDC)Limited by manipulation cost
Depth within 5%
buy28,701.95 USDC (shortened; full value 28701.9570790676640435806469207015 USDC)sell23,516.24 USDC (shortened; full value 23516.248621878615174058088181760798385708607470355572 USDC)
Cost to move +50%
32,360.62 USDC (shortened; full value 32360.62703179991604815991272 USDC)Reachable through the order book
Checks
2 triggered3 not evaluated

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Higher at the end of the window than at its start

Lowest
2,553.17 USDC (shortened; full value 2553.170323300013330404594965 USDC)
Highest
8,095.36 USDC (shortened; full value 8095.36189974996144437015021 USDC)
2026-09-26T23:50:46Z — 2026-10-03T17:38:27Z
Max safe collateral
8,095.36 USDC (shortened; full value 8095.36189974996144437015021 USDC)
8 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Cheap next to real tradingMANIPULATION_RATIO_LOW7 of 8

Not evaluated3

  • 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.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

8,090.15 USDC (shortened; full value 8090.15675794997901203997818 USDC)

Limited by manipulation cost

Liquidation term
12,047.63 USDC (shortened; full value 12047.6374394447208867546265528106830015918607947459235 USDC)

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

Manipulation termbinds
8,090.15 USDC (shortened; full value 8090.15675794997901203997818 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.