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keel
Ledger
64,753,397
Methodology
1.0.8-draft
Age
6s

USDT against USDC — what depth stands behind this price?

All assets

USDT / USDC

GCQT…TG6V

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0 USDCLimited by manipulation cost
Depth within 5%
buy10.81 USDC (shortened; full value 10.8141271335071388270995520521 USDC)sell11.02 USDC (shortened; full value 11.021604207174191047570352654319588884698007491053 USDC)
Cost to move +50%
0 USDCReachable at no cost: nothing stands in the way
Checks
7 triggered3 not evaluated

Collateral ceiling

The most this asset could back at each reading: the lower of the liquidation and manipulation limits.

Unchanged across the window

Lowest
0 USDC
Highest
0 USDC
2026-10-02T18:54:27Z — 2026-10-03T18:24:27Z
Max safe collateral
0 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.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout

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.

Volume each side can absorb before the price moves 2, 5 or 10 per cent. Buy side bears on oracle manipulation, sell side on liquidation.

  • SDEX
  • AMM
  • Sell side, composition not reported

2% from mid

Buy side
4.35 USDC (shortened; full value 4.3573829369508734669708692161 USDC)
Sell side
4.37 USDC (shortened; full value 4.3748115682780904619639656527978917002887408755 USDC)

5% from mid

Buy side
10.81 USDC (shortened; full value 10.8141271335071388270995520521 USDC)
Sell side
11.02 USDC (shortened; full value 11.021604207174191047570352654319588884698007491053 USDC)

10% from mid

Buy side
21.37 USDC (shortened; full value 21.3736971942990166458789480805 USDC)
Sell side
22.33 USDC (shortened; full value 22.337272746852300204228658574268308966747962685052 USDC)

Bars share one scale. The venue split decomposes the buy side; the sell side is drawn as an outline because its composition is not reported.