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keel
Ledger
64,752,136
Methodology
1.0.8-draft
Age
6s

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 3.41169482420568389936231152577277231323893542363 USDC)Limited by liquidation depth
Depth within 5%
buy3.30 USDC (shortened; full value 3.3034025225740787055853072521 USDC)sell3.36 USDC (shortened; full value 3.366780757365160914295157644971437074892584625765 USDC)
Cost to move +50%
Not reachableThe order book cannot reach the target
Checks
3 triggered5 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.

Higher at the end of the window than at its start

Lowest
3.32 USDC (shortened; full value 3.327103901003894856750301661474445216538353602682 USDC)
Highest
3.48 USDC (shortened; full value 3.480990911348264618161615640738389942465202064468 USDC)
2026-09-26T17:51:36Z — 2026-10-03T16:39:22Z
Max safe collateral
3.41 USDC (shortened; full value 3.41169482420568389936231152577277231323893542363 USDC)
168 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_30D31 of 168
No genuine trade in 7 daysNO_GENUINE_TRADE_7D31 of 168

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.

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

Largest holder
99.9999 % (shortened; full value 99.99993997816884881959852995 %)
Top ten holders
99.9999 % (shortened; full value 99.99998515066112633073168364 %)
Concentration index
9,999.98 (shortened; full value 9999.9879956377378428345063441801482080547364921315294479)

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