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keel
Ledger
64,752,856
Methodology
1.0.8-draft
Age
4s

TREAD against USDC — what depth stands behind this price?

All assets

TREAD / USDC

GANM…6VLM

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
3.41 USDC (shortened; full value 3.41374133427942940903427676340717926870134982363 USDC)Limited by liquidation depth
Depth within 5%
buy3.30 USDC (shortened; full value 3.305384073354095543163811073 USDC)sell3.36 USDC (shortened; full value 3.368800325670964618174214461289037862905367825765 USDC)
Cost to move +50%
Not reachableThe order book cannot reach the target
Checks
3 triggered5 not evaluated

History

Window
Resolution
Source

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.

Higher at the end of the window than at its start

Lowest
1.30 USDC (shortened; full value 1.3032365867199560798950329374 USDC)
Highest
6.60 USDC (shortened; full value 6.6066850582485877843159109779 USDC)
2026-09-25T23:59:24Z — 2026-10-03T17:39:22ZOne scale across every line on this chart
2% from mid
1.33 USDC (shortened; full value 1.3318526759941389728271726225 USDC)
5% from mid
3.30 USDC (shortened; full value 3.305384073354095543163811073 USDC)
10% from mid
6.53 USDC (shortened; full value 6.5329616919176243614778004668 USDC)
9 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.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
No genuine trade in 30 daysNO_GENUINE_TRADE_30D3 of 9
No genuine trade in 7 daysNO_GENUINE_TRADE_7D3 of 9

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.

3.41 USDC (shortened; full value 3.41374133427942940903427676340717926870134982363 USDC)

Limited by liquidation depth

Liquidation termbinds
3.41 USDC (shortened; full value 3.41374133427942940903427676340717926870134982363 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.