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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

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.

Higher at the end of the window than at its start

Lowest
23,799.11 USDC (shortened; full value 23799.1166574615913506283621780769 USDC)
Highest
300,930.26 USDC (shortened; full value 300930.2680267165215344079750857894 USDC)
2026-09-11T23:48:00Z — 2026-10-02T10:38:37ZOne scale across every line on this chart
2% from mid
250,687.37 USDC (shortened; full value 250687.3770445018319706023045825155 USDC)
5% from mid
292,343.66 USDC (shortened; full value 292343.6618971185963655087340389531 USDC)
10% from mid
292,719.42 USDC (shortened; full value 292719.4252758212686641144752903613 USDC)
22 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_5PCT15 of 22

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.