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keel
Ledger
64,750,326
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
1,341.12 USDC (shortened; full value 1341.12615592481670648465909765457321358458736742106 USDC)Limited by liquidation depth
Depth within 5%
buy2,266.35 USDC (shortened; full value 2266.3513234811350334744779921653 USDC)sell1,488.31 USDC (shortened; full value 1488.317108802189100238261722217246269137490930414572 USDC)
Cost to move +50%
24,833.50 USDC (shortened; full value 24833.50627816061844987137122 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Collateral ceiling

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

Lower at the end of the window than at its start

Lowest
1,172.39 USDC (shortened; full value 1172.39363613646027300421029862355157386099226605273 USDC)
Highest
1,732.31 USDC (shortened; full value 1732.317347469348049631840919640322484400345839028547 USDC)
2026-09-26T14:50:46Z — 2026-10-03T14:08:27Z
Max safe collateral
1,342.12 USDC (shortened; full value 1342.123517596618472995799901718011321840855403328785 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.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%ZERO_DEPTH_2PCT3 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
965.08 USDC (shortened; full value 965.0819681357237782354535890155 USDC)
Sell side
409.89 USDC (shortened; full value 409.892611503363703187501679220428256931381143888836 USDC)

5% from mid

Buy side
2,266.35 USDC (shortened; full value 2266.3513234811350334744779921653 USDC)
Sell side
1,488.31 USDC (shortened; full value 1488.317108802189100238261722217246269137490930414572 USDC)

10% from mid

Buy side
21,890.92 USDC (shortened; full value 21890.9258461006908479423721657829 USDC)
Sell side
2,682.25 USDC (shortened; full value 2682.25231184963341296931819530914642716917473484212 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.