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keel
Ledger
64,751,047
Methodology
1.0.8-draft
Age
9s

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
12,508.54 USDC (shortened; full value 12508.542578198517488079432877104735020443808715352032 USDC)Limited by liquidation depth
Depth within 5%
buy100,822.83 USDC (shortened; full value 100822.835128356035909253581737447 USDC)sell23,856.96 USDC (shortened; full value 23856.961625289281664065893106624750670545194242064704 USDC)
Cost to move +50%
101,549.14 USDC (shortened; full value 101549.145721478650408770065 USDC)Reachable through the order book
Checks
1 triggered3 not evaluated

History

Window
Resolution
Source

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

Lower at the end of the window than at its start

Lowest
68,013.85 USDC (shortened; full value 68013.8598209795934245038800079957 USDC)
Highest
299,461.57 USDC (shortened; full value 299461.5776535623392768726664585382 USDC)
2026-10-02T15:53:37Z — 2026-10-03T15:08:42ZOne scale across every line on this chart
2% from mid
68,013.85 USDC (shortened; full value 68013.8598209795934245038800079957 USDC)
5% from mid
105,364.47 USDC (shortened; full value 105364.4726728270852821227009513368 USDC)
10% from mid
106,118.29 USDC (shortened; full value 106118.2995521743465094917505514138 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_5PCT3 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.

12,508.54 USDC (shortened; full value 12508.542578198517488079432877104735020443808715352032 USDC)

Limited by liquidation depth

Liquidation termbinds
12,508.54 USDC (shortened; full value 12508.542578198517488079432877104735020443808715352032 USDC)

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

Manipulation term
25,387.28 USDC (shortened; full value 25387.28643036966260219251625 USDC)

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