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keel
Ledger
64,752,847
Methodology
1.0.8-draft
Age
6s

EURC against USDC — what depth stands behind this price?

All assets

EURC / USDC

GAQR…Z7NM

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
25.32 USDC (shortened; full value 25.3273325942410514146638975 USDC)Limited by manipulation cost
Depth within 5%
buy8.93 USDC (shortened; full value 8.9370676722214873149531459021 USDC)sell134.00 USDC (shortened; full value 134.0086282471217569972119143933923705179448761622 USDC)
Cost to move +50%
101.30 USDC (shortened; full value 101.30933037696420565865559 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.

Higher at the end of the window than at its start

Lowest
2.39 USDC (shortened; full value 2.3980238661812535990824013998505695603016136932345 USDC)
Highest
25.87 USDC (shortened; full value 25.8703614376879814146638975 USDC)
2026-09-11T17:47:56Z — 2026-10-02T10:38:37Z
Max safe collateral
25.32 USDC (shortened; full value 25.3275301200323714146638975 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.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGH145 of 498
Nothing tradable within 2%ZERO_DEPTH_2PCT252 of 498
Extreme spreadSPREAD_EXTREME181 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
101.30 USDC (shortened; full value 101.30933037696420565865559 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
101.30 USDC (shortened; full value 101.30933037696420565865559 USDC)

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