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keel
Ledger
64,752,668
Methodology
1.0.8-draft
Age
4s

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%
buy23.79 USDC (shortened; full value 23.7965378842562403088047723926 USDC)sell24.25 USDC (shortened; full value 24.253102365769613981201087515240000346120373862241 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

Price

The midpoint the engine read at each scan. It says what the market quotes, not what it can absorb.

Higher at the end of the window than at its start

Lowest
0.00009607 USDC (shortened; full value 0.0000960769555306 USDC)
Highest
0.00017967 USDC (shortened; full value 0.0001796781133646 USDC)
2026-09-11T17:48:01Z — 2026-10-02T10:38:42Z
Mid price
0.00015619 USDC (shortened; full value 0.00015619916838445 USDC)
498 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
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Extreme spreadnowSPREAD_EXTREME423 of 498
Price sources disagreenowPRICE_SOURCE_CONFLICT344 of 498
Cheap next to real tradingnowMANIPULATION_RATIO_LOW145 of 498
Nothing tradable within 2%ZERO_DEPTH_2PCT152 of 498
No genuine trade in 7 daysNO_GENUINE_TRADE_7D22 of 498

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
24.57 USDC (shortened; full value 24.576642242744957561945137312319883177075278999222 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.