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keel
Ledger
64,752,487
Methodology
1.0.8-draft
Age
6s

EURC against USDC — what depth stands behind this price?

All assets

EURC / USDC

GDHU…NPP2

Risk band

Medium

partial confidence

A floor: the real band can only be worse.

Max safe collateral
13,556.56 USDC (shortened; full value 13556.561870310515873050041780680182504686530876983347 USDC)Limited by liquidation depth
Depth within 5%
buy103,743.84 USDC (shortened; full value 103743.8405711717868157943058549162 USDC)sell25,739.66 USDC (shortened; full value 25739.665271999753441040913007908959077758444814507474 USDC)
Cost to move +50%
104,646.76 USDC (shortened; full value 104646.7604683629542072136546 USDC)Reachable through the order book
Checks
1 triggered3 not evaluated

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
13,234.85 USDC (shortened; full value 13234.8573486935844785289796122017575517318992981582425 USDC)
Highest
59,516.50 USDC (shortened; full value 59516.504223096741900000745655279197296042469703805776 USDC)
2026-10-02T17:53:37Z — 2026-10-03T17:08:37Z
Max safe collateral
13,458.31 USDC (shortened; full value 13458.318200820258434383944020220602753710079372625928 USDC)
25 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_5PCT5 of 25

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.

13,556.56 USDC (shortened; full value 13556.561870310515873050041780680182504686530876983347 USDC)

Limited by liquidation depth

Liquidation termbinds
13,556.56 USDC (shortened; full value 13556.561870310515873050041780680182504686530876983347 USDC)

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

Manipulation term
26,161.69 USDC (shortened; full value 26161.69011709073855180341365 USDC)

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