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keel
Ledger
64,751,044
Methodology
1.0.8-draft
Age
10s

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
8,335.16 USDC (shortened; full value 8335.168703975057239425865055 USDC)Limited by manipulation cost
Depth within 5%
buy28,279.81 USDC (shortened; full value 28279.8120218957144922138221952167 USDC)sell23,962.29 USDC (shortened; full value 23962.298157727403314900800433433019966440615763288 USDC)
Cost to move +50%
33,340.67 USDC (shortened; full value 33340.67481590022895770346022 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
1,879.27 USDC (shortened; full value 1879.2711003250072968410995375 USDC)
Highest
8,614.54 USDC (shortened; full value 8614.54532975004102403227313 USDC)
2026-09-26T15:50:46Z — 2026-10-03T15:08:27Z
Max safe collateral
7,900.38 USDC (shortened; full value 7900.383601774949084423082375 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Cheap next to real tradingMANIPULATION_RATIO_LOW157 of 169
Cheap to move the priceMANIPULATION_CHEAP24 of 169

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.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
22,296.94 USDC (shortened; full value 22296.9404785989644767037255011428 USDC)
Sell side
204.66 USDC (shortened; full value 204.6654534023840501298921221497675588800970050719 USDC)

5% from mid

Buy side
28,279.81 USDC (shortened; full value 28279.8120218957144922138221952167 USDC)
Sell side
23,962.29 USDC (shortened; full value 23962.298157727403314900800433433019966440615763288 USDC)

10% from mid

Buy side
32,220.10 USDC (shortened; full value 32220.106668903813597282963761553 USDC)
Sell side
24,598.30 USDC (shortened; full value 24598.302707124029091320416427961988847020606635600548 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.