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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

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.

Lower at the end of the window than at its start

Lowest
9.58 USDC (shortened; full value 9.5827402453599806623259070101 USDC)
Highest
83.49 USDC (shortened; full value 83.4907484190594168159821481125 USDC)
2026-09-26T23:50:56Z — 2026-10-03T17:08:42ZOne scale across every line on this chart
2% from mid
9.58 USDC (shortened; full value 9.5827402453599806623259070101 USDC)
5% from mid
23.78 USDC (shortened; full value 23.7823879149840646990770785174 USDC)
10% from mid
47.00 USDC (shortened; full value 47.0049548684538945117331907436 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.

Concentration and wash trading bound how much of the depth is real.

Largest holder
8.9292 % (shortened; full value 8.92927747824060233145264629 %)
Top ten holders
29.7696 % (shortened; full value 29.76965874928080078847100044 %)
Concentration index
179.00 (shortened; full value 179.0080027800654021435390231873806513865915616781953607)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Volume to supply, 30 day
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Last genuine trade
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used