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keel
Ledger
64,751,047
Methodology
1.0.8-draft
Age
6s

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
54.81 USDC (shortened; full value 54.8147756834256807906562837470989138350713876962575 USDC)Limited by liquidation depth
Depth within 5%
buy0 USDCsell79.15 USDC (shortened; full value 79.158610387207894446709604833739915805211800448603 USDC)
Cost to move +50%
9,188.91 USDC (shortened; full value 9188.9195771 USDC)Reachable through the order book
Checks
6 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
31.70 USDC (shortened; full value 31.700993635851782396899380830516688592895628480252 USDC)
Highest
61.74 USDC (shortened; full value 61.7486757285055559179224262770968781754316032923375 USDC)
2026-09-26T15:50:56Z — 2026-10-03T15:08:37Z
Max safe collateral
55.18 USDC (shortened; full value 55.188284171749726920809027623782929471330923670664 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.
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%nowZERO_DEPTH_2PCT164 of 169
Cheap to move the pricenowMANIPULATION_CHEAP110 of 169
No genuine trade in 7 daysNO_GENUINE_TRADE_7D28 of 169
Price sources disagreePRICE_SOURCE_CONFLICT5 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.

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
9,188.91 USDC (shortened; full value 9188.9195771 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
0 USDC

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

Cost against genuine volume
not computed

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
9,188.91 USDC (shortened; full value 9188.9195771 USDC)

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