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keel
Ledger
64,751,767
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
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%
9,196.72 USDC (shortened; full value 9196.7252771 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
30.65 USDC (shortened; full value 30.658644818595512670954325923490110633763150465368 USDC)
Highest
682.90 USDC (shortened; full value 682.904816380328520585263396162671260242470970100305 USDC)
2026-09-11T17:47:56Z — 2026-10-02T10:38:37Z
Max safe collateral
31.72 USDC (shortened; full value 31.727224586861696053478263517154671518883050450902 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
Extreme spreadnowSPREAD_EXTREME490 of 498
Nothing tradable within 2%nowZERO_DEPTH_2PCT411 of 498
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME145 of 498
Supply is concentratednowHOLDER_CONCENTRATION_HIGH145 of 498
Cheap to move the pricenowMANIPULATION_CHEAP83 of 498
Price sources disagreePRICE_SOURCE_CONFLICT84 of 498
No genuine trade in 7 daysNO_GENUINE_TRADE_7D28 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
9,196.72 USDC (shortened; full value 9196.7252771 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
9,196.72 USDC (shortened; full value 9196.7252771 USDC)

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