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keel
Ledger
64,753,567
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
55.04 USDC (shortened; full value 55.047076706902889330099722096349488372923394907392 USDC)Limited by liquidation depth
Depth within 5%
buy0 USDCsell79.62 USDC (shortened; full value 79.622919555493352098218109410138800905457143422656 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

Price

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

Unchanged across the window

Lowest
2,475 USDC
Highest
2,475 USDC
2026-09-26T23:50:56Z — 2026-10-03T18:38:37Z
Mid price
2,475 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.

Concentration and wash trading bound how much of the depth is real.

Largest holder
76.1806 % (shortened; full value 76.18063822332721501580344659 %)
Top ten holders
90.1830 % (shortened; full value 90.18307908733653685448273085 %)
Concentration index
5,876.97 (shortened; full value 5876.9783631561476339100284345013071696054933634363794834)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Volume to supply, 30 day
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Last genuine trade
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used