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keel
Ledger
64,754,106
Methodology
1.0.8-draft
Age
4s

BTC against USDC — what depth stands behind this price?

All assets

BTC / USDC

GDPJ…2MZM

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
1,380.17 USDC (shortened; full value 1380.179891947867195233300310976703948604402922189334 USDC)Limited by liquidation depth
Depth within 5%
buy2,492.40 USDC (shortened; full value 2492.403980746319842565525018007 USDC)sell1,566.66 USDC (shortened; full value 1566.669649745087855483008927251272221517588433725884 USDC)
Cost to move +50%
25,110.40 USDC (shortened; full value 25110.40361084274530432647353 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Price

The midpoint the engine read at each scan. It says what the market quotes, not what it can absorb.

Higher at the end of the window than at its start

Lowest
73,431.58958958 USDC (shortened; full value 73431.5895895895895896 USDC)
Highest
86,891.0061 USDC
2026-09-11T17:47:56Z — 2026-10-02T10:38:32Z
Mid price
85,334.50255 USDC
498 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
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME146 of 498
Supply is concentratednowHOLDER_CONCENTRATION_HIGH146 of 498
Nothing tradable within 2%ZERO_DEPTH_2PCT40 of 498

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.

An averaging oracle makes an attacker outweigh genuine trading as well as move the book. A market with no genuine volume has no such defence.

Cost of a 50% move, order book only
25,110.40 USDC (shortened; full value 25110.40361084274530432647353 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
25.59 USDC (shortened; full value 25.5969042 USDC)

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
980.9937 (shortened; full value 980.9937723188707056350382219269)

Below 1, moving the price is cheaper than all genuine trading across the window. Not computed when there was no genuine volume or the target is unreachable

Total attack cost
25,136.00 USDC (shortened; full value 25136.00051504274530432647353 USDC)

The move, plus the genuine volume an averaging oracle forces an attacker to outweigh