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keel
Ledger
64,752,675
Methodology
1.0.8-draft
Age
8s

THE1 against USDC — what depth stands behind this price?

All assets

THE1 / USDC

GBGR…IEVW

Risk band

Medium

partial confidence

A floor: the real band can only be worse.

Max safe collateral
14.93 USDC (shortened; full value 14.937435760392838017471734314519470103905806013624 USDC)Limited by liquidation depth
Depth within 5%
buy14.46 USDC (shortened; full value 14.4632991853714184459696182698 USDC)sell14.74 USDC (shortened; full value 14.740788339466348081546981121467107285414299026772 USDC)
Cost to move +50%
Not reachableThe order book cannot reach the target
Checks
2 triggered5 not evaluated

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
15.15 USDC (shortened; full value 15.154768123485746158445703160311137973200450852322 USDC)
Highest
22.20 USDC (shortened; full value 22.204676706385645539965118542995798722322115554386 USDC)
2026-10-02T17:54:22Z — 2026-10-03T17:24:17Z
Max safe collateral
15.15 USDC (shortened; full value 15.154768123485746158445703160311137973200450852322 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
One holder owns most of itHOLDER_CONCENTRATION_EXTREME24 of 25

Not evaluated5

  • Price sources disagree
  • Extreme spread
  • 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.

14.93 USDC (shortened; full value 14.937435760392838017471734314519470103905806013624 USDC)

Limited by liquidation depth

Liquidation termbinds
14.93 USDC (shortened; full value 14.937435760392838017471734314519470103905806013624 USDC)

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

Manipulation term
not applicable

Not applied: the critical target is not reachable through the order book.