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keel
Ledger
64,752,667
Methodology
1.0.8-draft
Age
5s

ETH against USDC — what depth stands behind this price?

All assets

ETH / USDC

GBFX…SOCC

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
53.14 USDC (shortened; full value 53.143296551458975057524090980463185657669774536692 USDC)Limited by liquidation depth
Depth within 5%
buy0 USDCsell75.81 USDC (shortened; full value 75.815526717994450735288844111033362346231757950868 USDC)
Cost to move +50%
9,188.99 USDC (shortened; full value 9188.9986771 USDC)Reachable through the order book
Checks
6 triggered3 not evaluated

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Lower at the end of the window than at its start

Lowest
6,233.97 USDC (shortened; full value 6233.9787744 USDC)
Highest
10,240.30 USDC (shortened; full value 10240.3018251 USDC)
2026-09-26T23:50:56Z — 2026-10-03T17:23:32Z
Cost to move +50%
9,188.99 USDC (shortened; full value 9188.9986771 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.
Nothing tradable within 2%nowZERO_DEPTH_2PCTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Cheap to move the pricenowMANIPULATION_CHEAP6 of 8
No genuine trade in 7 daysNO_GENUINE_TRADE_7D2 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.

53.14 USDC (shortened; full value 53.143296551458975057524090980463185657669774536692 USDC)

Limited by liquidation depth

Liquidation termbinds
53.14 USDC (shortened; full value 53.143296551458975057524090980463185657669774536692 USDC)

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

Manipulation term
2,297.24 USDC (shortened; full value 2297.249669275 USDC)

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