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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

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
3,283.90 USDC (shortened; full value 3283.905465017019143302785236810279118822786632465036 USDC)
Highest
77,574.10 USDC (shortened; full value 77574.100178546551345 USDC)
2026-09-26T15:50:56Z — 2026-10-03T15:08:42Z
Max safe collateral
14,392.05 USDC (shortened; full value 14392.0538328504224502343130571805103041454952956118345 USDC)
169 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_5PCT110 of 169

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
101,549.14 USDC (shortened; full value 101549.145721478650408770065 USDC)

The target is reachable through the order book

Genuine volume in the oracle window
4,162.52 USDC (shortened; full value 4162.5276696 USDC)

Over the last 900 seconds (15 minutes), after the genuine-trade filter

Cost against genuine volume
24.3960 (shortened; full value 24.3960289953428854941178611307)

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
105,711.67 USDC (shortened; full value 105711.673391078650408770065 USDC)

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