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keel
Ledger
64,754,288
Methodology
1.0.8-draft
Age
3s

FRED against USDC — what depth stands behind this price?

All assets

FRED / USDC

GCA7…ZLV6

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)Limited by manipulation cost
Depth within 5%
buy23.87 USDC (shortened; full value 23.8716024360706197452391321551 USDC)sell24.32 USDC (shortened; full value 24.329607086850944266510431695074784469399983465345 USDC)
Cost to move +50%
0.00020 USDC (shortened; full value 0.00020580001436086830645 USDC)Reachable through the order book
Checks
5 triggered3 not evaluated

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Unchanged across the window

Lowest
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)
Highest
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)
2026-10-02T19:53:42Z — 2026-10-03T19:38:42Z
Max safe collateral
0.000051 USDC (shortened; full value 0.0000514500035902170766125 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.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout

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.

0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)

Limited by manipulation cost

Liquidation term
24.65 USDC (shortened; full value 24.65416756433576431059581629411994982995493182399 USDC)

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

Manipulation termbinds
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)

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