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keel
Ledger
64,754,297
Methodology
1.0.8-draft
Age
8s

VELO against USDC — what depth stands behind this price?

All assets

VELO / USDC

GDM4…2M5M

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
103.74 USDC (shortened; full value 103.749980217934243794629189565053332269322363229945 USDC)Limited by liquidation depth
Depth within 5%
buy10.08 USDC (shortened; full value 10.0808000515227859006968304492 USDC)sell189.78 USDC (shortened; full value 189.7852984911150884166185274232010670606947928255 USDC)
Cost to reach the critical move
The engine sent no critical rung
Checks
2 triggered3 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.

Lower at the end of the window than at its start

Lowest
0 USDC
Highest
4,522.62 USDC (shortened; full value 4522.6219195177987372287754098735 USDC)
2026-09-11T23:48:28Z — 2026-10-02T10:09:32ZOne scale across every line on this chart
2% from mid
0.0000047 USDC (shortened; full value 0.000004700295 USDC)
5% from mid
6.68 USDC (shortened; full value 6.6866893807222231740255212827 USDC)
10% from mid
18.81 USDC (shortened; full value 18.8142528309864996211393760899 USDC)
22 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
Cheap next to real tradingnowMANIPULATION_RATIO_LOW7 of 22
Cheap to move the priceMANIPULATION_CHEAP18 of 22
Nothing tradable within 2%ZERO_DEPTH_2PCT7 of 22

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.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

103.74 USDC (shortened; full value 103.749980217934243794629189565053332269322363229945 USDC)

Limited by liquidation depth

Liquidation termbinds
103.74 USDC (shortened; full value 103.749980217934243794629189565053332269322363229945 USDC)

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

Manipulation term
3,681.39 USDC (shortened; full value 3681.399716976894548996909735 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.