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keel
Ledger
64,752,487
Methodology
1.0.8-draft
Age
8s

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%
buy23.78 USDC (shortened; full value 23.7852153774073783495126107538 USDC)sell24.24 USDC (shortened; full value 24.241562628204063084875052331431841353444881136811 USDC)
Cost to move +50%
0.00020 USDC (shortened; full value 0.00020580001436086830645 USDC)Reachable through the order book
Checks
5 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.

Unchanged across the window

Lowest
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)
Highest
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)
2026-09-26T23:50:56Z — 2026-10-03T17:08:42Z
Max safe collateral
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)
8 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICT7 of 8
Extreme spreadnowSPREAD_EXTREME5 of 8
Nothing tradable within 2%ZERO_DEPTH_2PCT1 of 8

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
24.56 USDC (shortened; full value 24.564948560927703485136140643173293123823872958162 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.